New Delhi: Global consultancy firm KPMG in its report said that the real estate is the most corrupt sector followed by the Department of Telecommunication (DoT). The firm has put social sector, including the education and poverty eradication department, in third place.

KPMG has suggested that corruption and bureaucracy are major components to hinder the GDP rate of India. It also added that the nine percent growth rate would be difficult to persist if corruption rises at the same pace.

According to the survey conducted by KPMG, 68 percent of the corporate world is of the view that India can only grow with nine percent GDP, if corruption level comes down. About 31 percent people believe that corruption is the only reason for low GDP rate and rest one percent feel that corruption doesn’t hamper GDP.

In another survey conducted by the firm, which also gives financial consultation to the government, suggests that 51 percent people believe that foreign investment will be affected mostly due to the corruption in the corporate sector, while 46 percent say that investments will not be even in all sectors.

About 32 percent people feel that real estate sector is the most corrupt segments, and said that the department which having maximum government interference has the highest percentage of corruption.

JPN/Bureau