It is inexplicable, to say the least. A global consulting major -- KPMG -- has come out with a startling revelation. According to the results of a survey of over 1,000 leading Indian firms -- conducted by KPMG -- that were published recently, 60 per cent of Indian firms have experienced frauds in the past two years.
The finding virtually justifies the low rank of the country in the Corruption Perception Index.
In a brilliant plot in a Malayalam movie, the villain seeks to murder a low-ranking police officer who has some incriminating evidence against him. To ensure that he covers his tracks, the cop is killed while on duty along with the chief minister. The net result is that the probe focuses on the assassination of the chief minister and not on the killing of the policeman.
"The root cause of the current crisis is not indebtedness alone -- indebtedness is just a symptom. The underlying causes are stagnation in agriculture, increasing production and marketing risks, institutional vacuum and lack of alternative livelihood opportunities." -- The R Radhakrishna Committee report on agriculture indebtedness.
And, in one stroke, by his proposal to treat the symptom instead of treating the disease, the Hon'ble Finance Minister P Chidambaram, the darling reformer, has instantly turned into a dangerous deformer.