Corruption is morally bad, but economically beneficial for a nations prosperity

Our point of view only the name of persons that we read in paper or watch in news are not only responsible for corruption but also the common man is also responsible for that. But we like to tell you that corruption is depend upon the situation and the position of the common man. If any person in hurry and has some urgent work and caught by police he asked police for bribe so that the person get corrupt. It's only the dirty smell of garbage that we have created. We cannot remove corruption by any means because of the line ' JO JITA WO HI SIKANDAR '. No judiciary, no police, no administration can check it because all we want to get done our work by any mean... no matter if its bribe also. We think , Money and Power Corrupt a person. We often blame Politician but have we ever think who elect them! We elect them as our Representative in Government but when we, business man, give them bribe to solve our PERSONAL issues in govt/non-govt organization quickly. In this way, WE CORRUPT THEM. In a very real sense, is defined as "the misuse of public power for private gain. " It usually takes the form of bribery, meaning that the public official takes one thing, in return for something else connected with the government. If the public official takes without giving in return, what he takes is merely a "tip". But if the public official takes with the promise that he will give something in return, that is a "bribe". In other words, if the public official receives something and allows it to change his behaviour, then, there is "bribery" and not just the Asian custom of gift-giving. So if this is an old problem, why has it suddenly become such a hot political issue? Has Indian society now come of age, as the citizenry demands official transparency and freedom from corruption? Today no country of the world has been able to root out corruption nor will India be able do so. Many people have adopted corruption as their culture. Also in our country the procedure for getting any work done is very long if we want do our work very fast we have to give bribe. We can also see corruption effect on economy : for an example there have been several cases of collusion of officials of the income tax department of India for a favorable tax treatment in return for bribes . Sometimes businessmen just pay bribes to low level officials to secure the same treatment. Some high ranking officials may through the effecting on tax and custom officials create favorable tax policies for their relatives, friends and also for their own businesses. There are varies sector where corruption is going on and which are reducing our economy growth . As we cant stop a fish from drinking a drop of water or cant spot her drinking a drop of water from a large sea, same its nearly impossible to check in our case also. This a topic where disscussion could never end!!

CHINESE Economy - overview

Since the late 1970s China has moved from a closed, centrally planned system to a more marketoriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In

recent years, China has renewed its support for state-owned enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and approximately 200 million rural laborers and their dependents have relocated to urban areas to find work. One consequence of the "one child" policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the north - is another longterm problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2009, the global economic downturn reduced foreign demand for Chinese exports for the first time in many years, but China rebounded quickly, outperforming all other major economies in 2010 with GDP growth around 10%. The economy appears set to remain on a strong growth trajectory in 2011, lending credibility to the stimulus policies the regime rolled out during the global financial crisis. The government vows, in the 12th Five-Year Plan adopted in March 2011, to continue reforming the economy and emphasizes the need to increase domestic consumption in order to make the economy less dependent on exports for GDP growth in the future. However, China likely will make only marginal progress toward these rebalancing goals in 2011. Two economic problems China currently faces are inflation - which, late in 2010, surpassed the government's target of 3% - and local government debt, which swelled as a result of stimulus policies, and is largely off-the-books and potentially low-quality.

NEP
We are a country that is developing and hence there is this tremendous need for talent that can help Indian industries cope with the challenges of a globalized business environment. Thus creating managers that are globally aware as well as connected to the realities of a developing India is the need of the hour. That is precisely what the NEP course tries to achieve. While the entire world is chasing the Market

driven Economic Model, the NEP course tries to rationalize why this model may not be the best solution to Indias growth ambitions. The course introduces the future managers to the concepts of Planning and the functioning of a Mixed economy in a democratic set-up. The course attempts to create business leaders with an enlightened view of the National economy and the impact of various economic phenomena on the population. The importance of including studies in national economic planning processes can be explained with an example of natural science. At one level of knowledge it appeared that the Sun revolves around the Earth. At a higher level of knowledge it was discovered that the Earth rotates around its axis and also revolves around the Sun.