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Saturday , 25 May 2019
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Biggest scams in the history of India

Scams and corruptions are mainly responsible for the bad situation of politics that we find in India today. These scams and corruption incidences have shamed India in front of the world. The reason for the biggest scams that have been recorded in India is some or other way connected to political leaders and the power of wealthy people in India. The unchecked measures have led to wastage or money, generation of distrust, and loss of morality amongst the citizens of the country. Let us know more about the milestones set by different scams in the history of India:

  1. Indian Coal Allocation Scam or Coalgate:

A scam that is blacklisted in the history of all scams in the country is this one. The government then led by Manmohan Singh was accused to have sold coal deposits of the country to many public and private sector enterprises. This was carried out over a period of five years from 2004-2009 when coal blocks were allocated inefficiently by ignoring the procedure of competitive bidding or auctioning. The outcome of this scam led to a loss of a whopping amount of INR 1, 86, 000 crores.

  1. Hawala Scam or Jain Diaries:

This financial scam dates back to 1996 when the politicians sent an enormous amount of money illegally through Jain Brothers who worked as Hawala brokers. This scam involved an amount of $18 Million. This was a major case of bribery marked in Indian records. This revealed the dirty and unexpected face of politics in the country. It took more than two years for the CBI officers to stop the politicians to interfere in the duty of the CBI director.

  1. Commonwealth Scam:

Suresh Kalmadi had gained his name in being the one and only mastermind in the scam. This scam included corrupted high officials of the organizing committee. The financial irregularity and improper bill presentation by Suresh Kalmadi and his two companions were caught clearly. A major loss lump sum of INR 90 crores was what the nation had to face.

  1. 2G Spectrum scam:

A case for loss of $40 billion by political leaders and the coalition UPA government was recorded. This scam was amongst the top-level scams in the list where the government was blamed for charging too little money to the telephone enterprises for providing them with frequency allocation permit. When public interest litigation was filed against the differences in the budget and bill produced, the supreme court of India came to a conclusion that the spectrum was allocated in an arbitrary manner to favor some companies in exchange for public and national assets.

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