|
Author : CA A. K. Jain  -Chapter Headings- * Preamble *
Consequences of Corrupt Practices * Corruption Modules in India *
Corrupt Practices in Business * Government and Anti-Corruption Measures * Effectiveness of Anti-Corruption Measures * Corruption is a Global Phenomenon * Some International Examples of Corrupt Business Practices *
Countries Known For Stringent Anti-Corruption Laws * Prominent Corruption Cases Reported In India * Overview of Anti-Corruption Laws in India 1. Key
Corruption Related Laws : 2. Are
the Existing Laws Sufficient and Effective? 3.
Improvement Measures to Strengthen Anti-Corruption Laws : 4.
Prosecution and Conviction for Corruption in India * Conclusion Preamble Corruption remains a significant impediment to the growth and development of businesses in India. Despite numerous reforms and anti-corruption initiatives, many Indian companies continue grappling with corrupt practices that hinder their operations, inflate costs, and discourage domestic and foreign investments. It undermines institutions, disrupts efficient resource allocation, and perpetuates inequality. The main ways corruption affects India's economy are:  Consequences of Corrupt Practices 1. Loss of Public Resources : Corruption leads to the misuse and diversion of public funds, reducing the effectiveness of government projects and infrastructure. For example, funds earmarked for social welfare programs, such as education and healthcare, are often siphoned off, weakening human capital development and overall economic productivity. 2. Distorted Investment Climate : High levels of corruption create an unpredictable business environment. Investors, both domestic and foreign, are deterred from investing in sectors that require transparency and long-term stability. This leads to lower levels of Foreign Direct Investment and stunted industrial growth. 3. Reduced Quality of Public Services : Corruption affects the quality and delivery of essential public services like education, healthcare, and utilities. Poor service delivery not only erodes public trust but also reduces the potential for human capital development, hindering India's ability to compete in the global economy. 4. Increased Costs for Businesses : Bribery and favouritism inflate the cost of doing business. Enterprises have to spend additional money to "grease the wheels," which decreases efficiency and makes industries less competitive on the global stage. Moreover, corruption in public procurement leads to substandard infrastructure projects, contributing to long-term economic inefficiency. 5. Perpetuation of Inequality : Corruption tends to benefit the elite, deepening the divide between rich and poor. When resources are diverted from development initiatives, marginalized communities suffer disproportionately, exacerbating economic inequality. This hampers inclusive growth and limits the ability of large sections of society to contribute to the economy. 6. Erosion of Trust in Institutions : Corruption erodes public trust in government institutions, which is crucial for effective economic governance. When citizens lose faith in the government's ability to function transparently, tax evasion increases, and compliance with regulations declines, further weakening the economic framework. In conclusion, corruption acts as a significant barrier to India’s economic development. For sustainable growth, India needs to strengthen anti-corruption measures, improve transparency, and ensure more efficient use of public resources to build a resilient and equitable economy.
Corruption Modules in India
1.
Bribery : Offering something of value to influence business decisions. Corrupt Practices in Business 1. Infrastructure Sector : Delays in obtaining permits due to bribes can postpone project timelines. For instance, several road construction projects have faced significant delays attributed to corrupt practices within local authorities. 2. Manufacturing Sector : Companies may face demands for kickbacks to secure contracts. A notable case involved a major automobile manufacturer that had to pay bribes to secure import licenses for critical components. 3. Service Sector : Corruption in licensing can hinder the establishment and expansion of businesses. The hospitality industry, for example, often encounters demands for under-the-table payments to expedite licensing processes. Anti-Corruption Measures By Government
The Indian
government has implemented several measures to combat corruption,
including : Effectiveness of Anti-Corruption Measures
While these
initiatives have made strides in reducing certain types of corruption,
challenges remain : Corruption Perceptions Index The Corruption Perceptions Index (CPI) is an index that scores and ranks 180 countries by their perceived levels of public sector corruption, as assessed by experts and business executives. The CPI generally defines corruption as an "abuse of entrusted power for private gain". The index is published annually by the non-governmental US-based organization, Transparency International, since 1995.The CPI scores range from 0 (highly corrupt) to 100 (very clean).
Denmark, Finland, New Zealand, Norway, Singapore, and Sweden are perceived as the least corrupt nations in the world, ranking consistently high among international financial transparency, while the most apparently corrupt are Syria, South Sudan, and Venezuela (scoring 13), as well as Somalia (scoring 11).India with 39 marks , ranks at 93 ( 2023) in the list of 180 countries. Corruption is a Global Phenomenon Corruption, a pervasive issue in the global business landscape, refers to the abuse of power for private gain. It can take many forms, including bribery, extortion, embezzlement, and nepotism. These practices undermine economic growth, erode trust in institutions, and perpetuate inequality. Due to the clandestine nature of corruption, accurate statistics are often difficult to obtain. However, numerous studies and reports provide insights into its prevalence and impact. Some International Examples of Corrupt Business Practices 1. Watergate Scandal (1972) : While primarily a political scandal that involved the administration of U.S. President Richard Nixon, the Watergate investigation involved allegations of judicial misconduct by U.S. Supreme Court Justice Abe Fortas. The key accused were Richard Nixon, John Dean, G. Gordon Liddy, Abe Fortas. Scandal led to the impeachment of President Nixon, who resigned from office before the impeachment proceedings were completed. Fortas also resigned from the Court amid allegations of financial impropriety. 2. The "Pizza Connection" (1978) : This is a major drug trafficking case in the United States that involved allegations of judicial corruption in Italy. The key accused were Gaetano Badalamenti and Italian judges . The case exposed the extent of organized crime's influence over the Italian judiciary and led to increased efforts to combat corruption within the Italian legal system. 3. Pinochet Case (1998) : This case involved former Chilean dictator Augusto Pinochet, who was arrested in London in 1998 and faced extradition to Spain on charges of human rights abuses. In this case key accused were Augusto Pinochet and Spanish Judge Baltasar. The case sparked international debate about the universal jurisdiction of courts and the accountability of former dictators for their crimes. 4. Arms Deal Scandal (1999-2005) : This involved allegations of corruption in the procurement of arms by the South African government. The scandal led to investigations and prosecutions, with several individuals, including former President Jacob Zuma, facing charges. 5. Enron (2001) : United States: Enron, an energy company, engaged in a complex scheme to inflate profits and hide debts. This led to its bankruptcy and the downfall of its top executives, including CEO Kenneth Lay. 6. Petrobras Corruption Scandal (Brazil, 2004) : This was a massive corruption scheme involving Brazil's state-owned oil company, Petrobras. Scandal involved complex web of corruption involving Petrobras, Brazil's state-owned oil company, and politicians from various political parties. Bribes were allegedly paid to politicians in exchange for government contracts. The accused involved were politicians, executives, and contractors. The scandal led to the impeachment of President Dilma Rousseff and the imprisonment of numerous politicians and executives. 7. Mensalão Brazil (2005) : This was a massive political corruption scandal involving the ruling Workers' Party. While not exclusively military-related, it exposed widespread corruption within the Brazilian government, including allegations of kickbacks and bribes related to military contracts. 8. Siemens Bribery Scandal (2006) : This was a bribery scandal involving Siemens AG, a German multinational conglomerate. Several Siemens executives were convicted. It resulted in significant fines, the dismissal of top executives, and reforms within the company. 9. Rolls-Royce Bribery Scandal (2008) : The British aerospace and defence company was fined £675 million after admitting to paying bribes to foreign officials to secure contracts. The scandal involved countries such as Indonesia, India, and China. 10. Bernie Madoff (2008) : United States, Bernie Madoff operated a massive Ponzi scheme, promising investors exorbitant returns. The scheme collapsed, revealing billions of dollars in losses for thousands of investors. Madoff was sentenced to 150 years in prison. 11. Maguindanao Massacre (2009) : While not primarily a corruption case, the massacre of 58 people, including journalists, in the southern Philippines was linked to political rivalries and corruption within the military. The incident highlighted the influence of military power and the potential for abuse. 12. Zumagate (2009) : In this case a series of scandals involving Jacob Zuma, the former President of South Africa happened. The key accused were Jacob Zuma, Nhlanhla Nene, Cyril Ramaphosa. Scandal led to the impeachment of Zuma and a significant decline in public trust in the South African government. 13. 1MDB Scandal (2009) : This was a complex corruption and money laundering scandal involving Malaysia Development Berhad , a Malaysian state-owned investment fund. The key figures involved were Najib Razak (former Prime Minister of Malaysia), Jho Low (Malaysian financier). Scandal led to the downfall of Najib Razak, significant financial losses for Malaysia, and international investigations into the movement of funds. 14. The "Tainted Trial" (2010) : This is a South African case involving allegations of judicial corruption in the trial of convicted murderer Oscar Pistorius. The Key accused are Oscar Pistorius and South African judges. The case sparked controversy and raised questions about the fairness of the South African justice system. 15. The "Redwood City Five" (2012) : This is a U.S. case involving allegations of prosecutorial misconduct and judicial corruption in the conviction of five men for murder. The key accused were Redwood City Five defendants and California prosecutors. The case led to the exoneration of the five men and raised concerns about the reliability of eyewitness testimony and the potential for wrongful convictions. 16. FIFA Corruption Scandal (2015) : A wide-ranging investigation was conducted into bribery, money laundering, and other corrupt practices within the Fédération Internationale de Football Association (FIFA). Key figures involved were Sepp Blatter (former FIFA President), Michel Platini (former UEFA President). The investigation led to the arrest of numerous FIFA officials, reforms within the organization, and a loss of public trust in the governing body of world football. 17. Dieselgate (2015) : This was a scandal involving Volkswagen's use of software to cheat on emissions tests. Several Volkswagen executives were convicted. This resulted in massive fines, recalls, and reputational damage for Volkswagen, as well as increased scrutiny of the automotive industry's emissions practices. 18. Panama Papers (2016) : This was a leak of confidential documents from Mossack Fonseca, a Panamanian law firm, revealing the offshore financial dealings of world leaders, politicians, and celebrities. Case exposed the use of offshore companies for tax evasion, money laundering, and other illicit activities, leading to increased scrutiny of financial secrecy and transparency. The scandal led to investigations in multiple countries and the resignation of several world leaders. 19. United Nations Oil-for-Food Program : This scandal involved the United Nations' program in Iraq, which allowed Iraq to sell oil in exchange for humanitarian goods. However, allegations surfaced that Saddam Hussein's regime had diverted millions of dollars from the program for personal gain and to support terrorism. Several UN officials were implicated in the scandal, leading to investigations and dismissals. 20. UN Peacekeeping Forces : There have been numerous allegations of sexual abuse and exploitation by UN peacekeepers in various countries. These cases have raised concerns about the UN's ability to maintain accountability among its personnel and have led to reforms to address these issues. 21. Financial Mismanagement : There have been instances of financial mismanagement within UN agencies, including allegations of embezzlement and misuse of funds. These cases have highlighted the need for stronger internal controls and oversight. The UN's procurement system has been the subject of allegations of corruption, including bribery and kickbacks. These cases have involved both UN officials and private companies. These cases represent just a few examples of the corruption that has plagued in institutions worldwide. The issue is complex and multifaceted, with factors such as lack of transparency, inadequate oversight, and political interference contributing to its prevalence. These scandals have highlighted the challenges of combating corruption at the highest levels of government. Countries Known For Stringent Anti-Corruption Laws 1. Singapore : The Prevention of Corruption Act (PCA) and Penal Code. The Corrupt Practices Investigation Bureau (CPIB) operates independently from other law enforcement agencies, directly reporting to the Prime Minister. Severe penalties, including hefty fines, imprisonment, and forfeiture of corrupt gains. Even minor acts of corruption can lead to significant punishment. 2. Hong Kong : Independent Commission Against Corruption Ordinance and Prevention of Bribery Ordinance. The Independent Commission Against Corruption (ICAC) has broad powers to investigate, arrest, and prosecute. Strict penalties including imprisonment and heavy fines for corrupt acts in both public and private sectors. 3. Sweden : Extensive anti-corruption measures under the Penal Code and other specific legislation. Strong enforcement by public prosecutors and the police, with a focus on transparency and accountability. Severe fines and long prison sentences, along with disqualification from holding public office. 4. Denmark : Denmark has robust anti-corruption laws, emphasizing transparency and accountability. The country consistently ranks as one of the least corrupt in the world due to stringent enforcement and a strong legal framework. Heavy penalties, including imprisonment, fines, and public disclosure of offenders. 5. South Korea : Anti-Corruption Act and Kim Young-ran Act (Improper Solicitation and Graft Act). Aggressive enforcement with special focus on public officials, politicians, and businesses. Strict punishments including imprisonment, fines, and public shaming. 6. China : Anti-Unfair Competition Law and Criminal Law. The Central Commission for Discipline Inspection (CCDI) has sweeping powers, often resulting in severe penalties. Penalties can include life imprisonment, confiscation of property, and even the death penalty for severe cases. 7. United States : Foreign Corrupt Practices Act (FCPA) and various state laws. Multiple agencies, including the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Severe penalties, including long prison sentences, multi-million dollar fines, and disqualification from federal contracts. These countries have some of the most stringent anti-corruption laws and rigorous enforcement mechanisms, making them some of the most aggressive in combating corruption in both politics and business. Prominent Corruption Cases Reported In India Corruption has been a persistent issue in India, affecting various sectors of governance, administration, and public life over the past several decades. Several high-profile cases have emerged, revealing the extent of misuse of public funds, bribery, and illicit transactions. Below is a write-up on some of the prominent corruption cases in India over the last 50 years. 1. Jeep Scandal (1948) : The Jeep scandal of 1948 is among the first post-independence corruption cases. It involved the alleged misuse of funds in the procurement of army jeeps from the UK during the Kashmir conflict in 1948. Krishna Menon was accused of by passing standard protocols and finalizing the deal without proper approvals. The jeeps supplied were deemed unfit for army use. The case was later dropped, and Krishna Menon was never formally prosecuted. 2. Hari Das Mundra Scandal : In the late 1950s, Hari Das Mundra was a prominent industrialist involved in defrauding the Life Insurance Corporation (LIC) of India by inflating the prices of his company shares. The issue was brought to light by Feroze Gandhi in Parliament, leading to the resignation of then Finance Minister T. T. Krishnamachari and Mundra's imprisonment. A judicial inquiry led by Justice M. C. Chagla was held, and Haridas Mundhra was sentenced to 22 years in prison. 3. Dharam Teja Scandal : Teja, a shipping magnate in 1960 raised enormous sums of money from both Indian and foreign banks to establish Jayanti Shipping Corporation. However, most of the money was misappropriated for personal luxuries and offshore accounts. After fleeing the country, he was later extradited and imprisoned. 4. Bofors Scandal : The Bofors scandal in 1987 involved allegations of kickbacks paid by Swedish arms manufacturer Bofors to Indian politicians and defense officials to secure a contract for supplying howitzers. The scandal severely tarnished the image of the Congress party and played a significant role in Rajiv Gandhi's defeat in the 1989 elections. Legal cases stretched on for decades, but by 2011, all charges were dropped due to a lack of evidence. 5. Hawala Scandal : The Hawala scandal of 1000 crores, exposed in the early 1990s, revolved around politicians receiving bribes through the Jain Hawala brokers. A diary maintained by the Jain brothers listed the names of politicians who had received payments through the hawala channel. The case was dismissed in 1997 due to lack of conclusive evidence, and many politicians were acquitted, including L. K. Advani. 6. Harshad Mehta Scam : Known as the "Big Bull" of the stock market, Harshad Mehta manipulated stock prices in 1992 using illicit funds from banks. His actions led to a market crash and subsequent reforms in the Indian financial and banking sectors. 7. 2G Spectrum Scam (2008) : 2G spectrum scam in 2008 involved irregularities in the allocation of 2G telecommunications licenses at throwaway prices, causing a massive loss to the exchequer. The scam was exposed in 2010, leading to the arrest of several high-profile politicians and business people. It became a major issue in the 2014 elections and contributed to the defeat of the UPA government. In 2017, all accused were acquitted by a special court citing lack of evidence. 8. Satyam Scandal : The Satyam scandal in 2009 was one of India's biggest corporate frauds. Ramalinga Raju, the founder of Satyam Computer Services, admitted to inflating the company's revenue and profit figures over several years. The scam led to a collapse in Satyam’s stock prices and severely damaged investor confidence in the Indian corporate sector. Ramalinga Raju was sentenced to seven years in prison, and Satyam was eventually taken over by Tech Mahindra. 9. Commonwealth Games Scam : The 2010 Commonwealth Games held in New Delhi were mired in controversy due to widespread allegations of corruption in awarding contracts and inflating costs. Substandard construction and poor planning added to the embarrassment, and the final cost was several times the initial estimate. The key players were various politicians and businessmen. 10. Coal Allocation Scam : Popularly known as "Coalgate of 2012," this scam revolved around the allocation of coal blocks to private companies without a transparent bidding process. The Comptroller and Auditor General (CAG) estimated a huge loss to the exchequer due to these allocations. The scandal led to a public outcry and intensified calls for reforms in the mining sector. The key players were various politicians and businessmen. The Supreme Court of India cancelled 214 of the 218 coal block allocations in 2014. 11. Vyapam Scam (Madhya Pradesh, 2013) : The Vyapam scam in Madhya Pradesh involved manipulation of entrance exams for professional courses like medicine and recruitments to state government jobs. A nexus of politicians, middlemen, and officials rigged results to favour certain candidates, leading to widespread protests. Over 40 people connected to the case, including witnesses and accused, died under mysterious circumstances. The key players were various politicians and businessmen. 12. Canara Bank Fake Accounts Scam : The Canara Bank Fake Accounts Scam was exposed in 2017 when it was discovered that certain bank employees were involved in creating fake accounts to launder money. These fake accounts were used to funnel black money into the banking system, bypassing regulatory scrutiny. In collusion with middlemen, bank employees issued loans and credit facilities to shell companies and individuals using these accounts. Internal probe and Central Bureau of Investigation (CBI) inquiry initiated and arrests made. 13. Lucknow Bank Fraud : The Lucknow Bank fraud , involving the District Cooperative Bank (DCB), was a major financial fraud exposed in Uttar Pradesh in 2017. It cantered around irregularities in loan disbursement, where fraudulent loans were issued to shell companies and individuals with fake identities. The bank officials, in collusion with politicians, bypassed regulatory norms and facilitated large withdrawals and loans without proper documentation. Investigation by local authorities, several arrests made cases ongoing. 14. Nirav Modi and Mehul Choksi Scam : Billionaire jeweller Nirav Modi and his uncle Mehul Choksi were accused of defrauding the Punjab National Bank (PNB) in 2018 by obtaining fake Letters of Undertaking (LoUs) to obtain overseas credit. The scandal rocked the banking sector, led to regulatory tightening, and sparked debates on loopholes in India’s banking system. 15. IL & FS Crisis : The Infrastructure Leasing & Financial Services (IL&FS) crisis erupted in 2018 when the company, a major player in infrastructure development and financing, defaulted on its debt obligations. The company had accumulated a massive debt load over the years, which led to a liquidity crisis. Investigations revealed that poor corporate governance, fraudulent accounting practices, and mismanagement of funds were at the root of the crisis. IL&FS had over 300 subsidiaries, and its downfall caused widespread disruption in India’s financial markets, threatening the stability of the non-banking financial company (NBFC) sector. 16. State Bank of India Insider Trading Case : The SBI insider trading case in 2020 involved employees of the bank allegedly leaking sensitive financial information to stock market traders in exchange for monetary benefits. The information pertained to the bank’s quarterly earnings and other significant developments that could affect stock prices. While the monetary value of the scam was relatively low, it highlighted loopholes in internal checks and the ethics of corporate governance within a public-sector bank. Internal investigation initiated, employees were suspended. 17. Yes Bank Venture Capital Fraud : The Yes Bank fraud in 2020 ,involved venture capital loans sanctioned to several corporate entities in return for kickbacks to Rana Kapoor, Yes Bank’s former CEO. The bank’s financial health deteriorated rapidly as non-performing assets (NPAs) surged, revealing reckless lending practices. Allegations of financial mismanagement and corporate fraud came to light when the Reserve Bank of India (RBI) intervened in March 2020, placing the bank under a moratorium. Overview of Anti-Corruption Laws in India India has a range of laws and institutions designed to combat corruption. However, the effectiveness and sufficiency of these laws have been a topic of debate due to continued high levels of corruption in public and private sectors. Below is an analysis of key anti-corruption laws in India, their effectiveness, and suggestions for improvement.
1. Key
Corruption Related Laws : b) Prevention of Money Laundering Act, 2002 : The PMLA aims to prevent money laundering and confiscate property derived from criminal activities. It covers financial crimes and applies to both public officials and private individuals involved in money laundering activities. Punishments: Imprisonment of three to seven years, which can extend to ten years in some cases, along with fines. c) Lokpal and Lokayuktas Act, 2013 : This law established the Lokpal at the national level and Lokayuktas at the state level to investigate corruption allegations against public servants, including high-ranking officials and politicians. The effectiveness has been limited due to delays in appointing Lokpal members and operationalizing state-level Lokayuktas. d) Whistleblowers Protection Act, 2014 : The Act provides a mechanism to protect individuals who report corruption, abuse of power, or misuse of public office. However, the absence of robust enforcement mechanisms has limited its impact. e) Central Vigilance Commission (CVC) Act, 2003 : The CVC is an autonomous body that oversees vigilance and anti-corruption efforts in central government departments and public sector undertakings. It advises and assists the government in matters of vigilance but lacks prosecutorial powers. f) Indian Penal Code, 1860 (Sections 168, 169, 409, etc.) : The IPC contains provisions related to criminal breach of trust, cheating, and fraud by public servants. These provisions are often used in conjunction with other anti-corruption laws. g) Benami Transactions (Prohibition) Act, 1988 (Amended in 2016) : This Act targets benami transactions (property transactions where the real owner is not recorded) to curb tax evasion and black money circulation. h) Right to Information (RTI) Act, 2005 : Empowers citizens to seek information from government bodies, promoting transparency and accountability. Highly effective in exposing corruption; however, recent amendments have weakened its functioning.
2. Are
the Existing Laws Sufficient and Effective? a) Inefficiency and Delays : Legal proceedings related to corruption cases often suffer from significant delays, leading to low conviction rates. b) Low Conviction Rates : Convictions in corruption cases are relatively low, reflecting challenges in proving guilt, lack of proper investigation, and procedural loopholes. c) Lack of Adequate Protection for Whistleblowers : The Whistleblowers Protection Act is not effectively enforced, deterring people from reporting corruption due to fear of retribution. d) Political Interference : Political corruption often goes unchecked due to the influence of powerful individuals, weak enforcement, and lack of independent investigative agencies. e) Resource Constraints : Anti-corruption agencies are often under-resourced, lacking sufficient manpower, technological support, and independence
3.
Improvement Measures to Strengthen Anti-Corruption Laws b) Strengthening Whistleblower Protections : Amend the Whistleblowers Protection Act to provide better protection and anonymity to whistleblowers, encouraging more people to report corrupt practices without fear. c) Enhancing Investigative Powers : Provide more resources, training, and technological support to investigative agencies such as the CBI, Lokpal, and Lokayuktas to enhance their effectiveness in handling corruption cases. d) Independence of Anti-Corruption Agencies : Ensure the independence of agencies like CBI and CVC from political influence to facilitate impartial investigations and prosecutions. e) Stronger Penalties and Fines : Increase penalties and introduce minimum mandatory sentences for corruption offenses to serve as a deterrent. f) Public Awareness and Transparency : Promote transparency in public dealings through digital governance, e-tendering processes, and real-time monitoring of public projects to reduce opportunities for corruption. g) Accountability of Political Parties : Mandate greater transparency in political funding and introduce stringent checks on electoral spending to reduce political corruption.
4.
Prosecution and Conviction for Corruption in India a) Central Bureau of Investigation (CBI) : The CBI registered over 600 corruption cases in 2022, with conviction rates hovering around 65-70%. However, these figures reflect only a fraction of the total corruption cases in the country. b) Central Vigilance Commission (CVC) : The CVC received over 15,000 complaints of corruption in 2021, but only a small percentage resulted in action due to procedural delays and lack of sufficient evidence. c) Local and Lokayuktas : Since their establishment, Lokpal and Lokayuktas have struggled to prosecute high-profile cases due to legal ambiguities and lack of clear guidelines on jurisdiction and powers. d) Judicial Data : According to National Crime Records Bureau (NCRB) data, around 3,000 to 5,000 cases of corruption are registered annually, with a low conviction rate of approximately 25-30%.
Conclusion Corruption continues to be a formidable challenge for Indian economy affecting various sectors and impeding economic growth. It has led to significant financial losses, erosion of trust in public institutions, and inefficiencies in governance. Each of these scams revealed systemic loopholes and governance failures, leading to public outrage and demand for reforms. While some of these cases have seen legal resolutions, many are ongoing, reflecting the complexity and scale of these scandals. Despite governmental efforts to curb corrupt practices, the persistence of bribery, bureaucratic delays, and other unethical behaviours necessitates more robust and effective measures. Addressing the issue requires a combination of legal reforms, transparency measures; international cooperation and fostering a culture of integrity are essential steps toward mitigating the adverse impacts of corruption on Indian economy. By combating corruption, governments and businesses can create a more equitable and prosperous world for all.
**********Disclaimer: The information and statistics presented in this article have been compiled from various sources deemed reliable. However, readers are advised to independently verify the accuracy and relevance of the data before making any decisions or taking action based on the information provided herein. The author and publisher do not assume any responsibility or liability for any consequences resulting from reliance on the information presented in this article. 2024/09/26 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscribe to:
Posts (Atom)
No comments:
Post a Comment