The paper provides a taxonomy of corrupt activities in terms of the source of illegal rent involved. It identifies two types of deterrent policies: discouraging and monitoring. Using these as tools, it analyses the probable effects of India's ongoing reforms and of her resourceful information and communication technology on the future incidence of corruption. It argues that illegal rents on scarcity outside governance will experience perceptible fall, while significant contribution from the technology sector will be required to reduce corruption in governance. The paper also examines their possible roles in corruption based on information and strategic position.