It’s an irony that even a prolonged campaign against corruption last year could not throw any tangible solution. The matter is bursting at its seams but there is little hardly any respite to the common man hit hard by such unethical practices. In 2012 India was ranked 94th out of 176 countries in the corruption list. The Transparency International Corruption Perceptions Index has found that more than 62% of Indians have first-hand experience of corruption in getting jobs or work done in public offices. The recent bribery scandal in the defence helicopter deal of 3600 crore rupees has once again brought the issue of corruption on forefront in India. Interestingly, the Union Cabinet has accepted 14 out of 16 recommendation of the select committee for passing the Lokpal bill, meant to tackle corruption in the country. In the first phase government nationalized many sectors of the Indian economy to protect the growth of its nascent industries. Thus began an era of license permit raj and corruption flourished with impunity. The business -government nexus developed. Only those who can afford to pay the officials were able to procure license for doing businesses. With the opening up of the economy in 1990 the post liberalization era begun. In this phase the quantum of corruption multiplied manifold and continues to increase at an alarming pace. In the name of de -regularization and inviting private players, some government officials indulged in corrupt practices as many players scrambled for favors through greasing their palms.