What is a Ponzi Scheme? Any fraudulent or scam investment operation in which the operator, an organization or an individual, pays returns to the investors not from the profit they make but from the new capital paid to the operator by some new investors is known as a Ponzi scheme. Generally, the operators lure investors …
Tag: corruption in india
The total number of schools in Delhi is around 5,500. And if we look at the fees figures, we are bound to get shocked. Most of the nursery schools in Delhi charge more than IIT. If we look at the present fee structure in IITs, it is around 50,000 per annum. In addition to this, hostelites are also required to pay an extra 20,000 for food, accommodation and other facilities. On the other hand, reputed nursery schools in Delhi charge over 75,000 per annum as admission fees alone. The annual fees is a whopping 1,70,000 and besides all this, there are extra charges which amount to another 50,000 for transport and other facilities.
How is the common man affected from Coal Scam?
Coal mines are the gold mines of our nation. Coal amounts to 56 percent of electricity production in our country. In the December of 2011, over 300 million Indian citizens lacked access to electricity. To add to the bitterness, over one third of our country’s rural population sunk in blackouts, and so did 6 percent of the urban populace. All this had badly disturbed irrigation and the manufacturing processed across the length and breadth of the country. What is more painful is, despite our country being the fourth largest energy consumer after USA, China and Russia, it presently suffers from acute shortage of electricity generation. The IEA (International Energy Agency) had drawn out estimates and stated that India needs an investment of around $135 billion in order to provide 24/7 power supply to its entire population of 1.2 billion. Yes, $135 billion, still less than the loss acquired because of the Coal scam.
Today we will take a look at 10 biggest corruption scams in Indian History. They have been known as the milestone corruption cases india which caught mass attention but did not have any corrective effects on the society as the series is continuing till date.