It is Indeed very reassuring that the Indian economy is moving in the positive direction. In the context of turmoil in the global stock markets, such statements deliver desired positive results. The Bombay Stock Exchange (SENSEX) has registered positive trends on 10th August 2011. But the Sensex is hardly any barometer of growth. It has moved from 8739 on Dec 2, 2008 to more than 21000 points before coming down to 16858 on 9th August 2011. On 10th August it has closed at 17130. Had the sensex truly reflected growth, Indian economy would have been shining in the last 3 years. But the worst was witnessed by the economy, rather the people. One doesn’t even remember as to how many times the interest rates were changed by the Reserve Bank of India during these 3 years ! If India withstood the economic turmoil of the past 3 years, it was largely due to the black economy contribution. The astronomical growth in the amounts of illegal gratification as brought out in the audit reports of the CAG proves the contribution of the black economy. These transactions take place outside normal banking channels and through a very complex maze of fake companies. So, if the economy has moved in the positive direction it has thrived on black money. After all, only 15% funds are pumped into the system, the remaining 85% has been flying out of the country , presumably to the Swiss Banks and other tax havens. If the Indian economy kept on moving in the positive direction with just 15% of the funds, what a growth story it would have been had the entire 100% funds gone into development ! But it is politically incorrect to say so. Instead the government talks about “subsidies”. Does India really require any subsidy? If all the 100% funds are deployed for development, the need for subsidy simply does not arise. The Indian economy can certainly move steadily in the positive direction, if corruption is rooted out and fair accounting & auditing is taken as gospel. Howsoever high a person may be, he/she must be punished for economic crimes and acts of omission & commission resulting in harm to the economy. But in India, the shouting brigades fly into Taliban temper and attacks against whosoever points a finger at the guilty, be it the Comptroller & Auditor General of India, media, opposition , academician, intellectuals or citizens.