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"Tsunami of current political imbroglio will dent economy"
Lately, the Indian political climate has been rough, enduring many setbacks and having very few gains. The recent case of the Italian marines who will stand trial over the death of two Indian fishermen is one such incident that has created tension and disharmony between Indian and Italian leaders.
Last year, two marines, who were on board a cargo ship and were part of the military security team, fired shots at a fishing boat and killed two Indian fishermen as a result. Recently, there was a dispute between India and Italy over the fate of the marines. Since the fishermen were killed in Indian waters, the Indian government claimed the marines should be punished according to the Indian law.
However, the Italian government was against this decision, with the fear that the Indian government will punish the marines, without any consideration for their fundamental rights. The political atmosphere was tense as there was a growing mistrust between the two countries to begin with.
After the Indian government threatened the Italian government, it decided to send the marines to New Delhi for trials. Relationships built and maintained on threats and fear do not last long. And it is evident that Italy and India are not on cordial terms with each other.
This will definitely impact the Indian economy as bilateral trade between the two countries will be weakened. Since India will not be imposing death penalty, the probability of an increase in cross-border terrorism and piracy related activities will be higher. This will once again hamper the growth of the Indian economy, with money and assets easily getting siphoned off to criminals.
Recently, the Central Bureau of Investigation (CBI) came under fire for carrying out searches at the house of MK Stalin, DMK’s leader. The CBI carried out this search after a case was registered against an importer and a senior officer at the Directorate of Revenue Intelligence (DRI).
According to the CBI, 33 cars had been imported and some of these cars had been subsequently sold in violation of import provisions, resulting in the loss of up to Rs 48 crore to the Indian treasury. Instead of commending the CBI, the Congress reprimanded the organization for taking such a step. Corruption is so rampant in India that corrupt political leaders misuse government-led agencies for their own gain.
People have lost respect and sympathy for the government because government officials are also involved in such scams, which is why they do not want any such incident to surface. Once the CBI uncovers an incident, it will be difficult for corrupt leaders to hide their ill-gotten gains.
This political imbroglio will once again impede the progress of the Indian economy. The Indian economy is already in financial deficit and with political leaders also misusing the remaining funds, there will be no funds left for the welfare of the citizens.
P Chidambaram put forth many development programs to boost the economy of the country in his Union Budget, but if such corrupt practices occur simultaneously, it will only put more pressure on tax payers.
India’s list of political mess is never ending. These incidents are just the tip of the iceberg. There are indeed more corrupt practices of political leaders and more incidents of strained political ties that will put immense pressure on the Indian economy, causing it to bend permanently, if no proper steps are taken to deal with one and only problem in India – corruption.