In India, not only the economy is booming; so, it appears, is graft. The government announced this week that gdp grew by a dashing 8.9% year-on-year in the most recent quarter, from July to September. Yet the atmosphere for business is looking dirtier than ever. The Central Bureau of Investigation is probing an alleged bribes-for-loans scandal involving state-controlled banks and lenders: eight people were arrested last week. The telecoms market is in turmoil, as it transpires that dozens of mobile licences were improperly issued. And a wonkish report from a former imf man estimates that India has lost $462 billion in illegal capital flight since independence.
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