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Showing contexts for: parallel economy in Manavi Hakka Sanrakshan And Jagruti ... vs Charity Commissioner Of Maharashtra ... on 6 December, 2024Matching Fragments
16. In recent times, corruption has become cancerous which affects not only the common people who cannot use the said means to get what they are legally and rightfully entitled to, but corruption also impairs the growth of the country's economy and functioning of the bureaucracy. The effect of corruption is that a person is denied his rightful and legal entitlement because he decides or cannot afford to bribe the officials. The economic effect of corruption is that such amount escapes the flow of money in the official / formal economy and results into a parallel economy which further deprives the State of its rightful use by way of taxes and consequently the growth of the economy which taxes recovered could have been used for development of infrastructure, public welfare, etc. Such a practice is also contrary to the Prevention of Corruption Act, 1988.