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‘Two percent global GDP lost to corruption every year’

Published

9 years ago

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Lima: Around $1-1.5 trillion or around two percent of global GDP, are lost to corruption every year, president of the Natural Resource Governance Institute (NRGI) has said.

Speaking at a panel on integrity in public governance during the World Bank Group and International Monetary Fund annual meeting on Sunday, Daniel Kaufmann, president of (NRGI), presented the statistic, result of a study by the NRGI, an independent, non-profit organisation based in New York.

However, according to Kaufmann, the figure is only the direct costs of corruption as it does not factor in the opportunities lost on innovation and productivity,a news agency reported.

“The misallocation of talent away from productive activities and innovation” has a costlier impact on countries suffering from corruption in the long term.

A country that addresses corruption and significantly improves rule of law can expect a huge increase in per capita income in the long run, the study showed.

It will also see similar gains in reducing infant mortality and improving education, said Kaufmann.

Countries with better control of corruption averaged a five percent improvement in their budget deficits or surplus in the long term, he said.

Based on the findings of the study, Kaufmann called for a new definition of corruption.

Believing that corruption is no longer a simple transaction between two parties, he called it a “tax on the poor and, increasingly, the middle class… leading to higher levels of inequality”.

“Corruption has shifted to large colluding networks, such as FIFA. These networks shape the rules of the game, institutions, policies and contracts. This is more insidious than petty corruption,” he said.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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