The Indian ruling class faced its severest crisis of credibility in 2010. Its past caught up with it and skeletons and scams were spilling out of its closets. The scams have a symbiotic relationship with the black economy. The number of scams is growing and so is the size of the black economy, which has reached a mind-boggling level of 50 per cent of the Gross Domestic Product, that is, it annually generates Rs.33 lakh crore in black income. While the 1980s saw eight major scams, in the period between 1991 and 1996 there were 26 and during 2005-08, there were around 150.
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