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| DNA Newspapers - 27 Aug, 2007 (New Way) |
Corruption in India is a major concern because of the mind boggling
amounts of money illegally appropriated in the Satyam, IPL, CWG and 2G
Spectrum scams. India today has one of the most corrupt governance. The
unanimous worldwide view is that corruption is no more the tolerable
grease or speed money in any system, but a cancer that will cause death
of a society unless cured early.
Although ancient India had won the admiration of visiting monks,
historians and traders as a nation of honest citizens, we have lost that
reputation. Global watchdog, Transparency International Index of
Corruption, shames us in India’s rankings. Our citizens’ illegal bank
deposits in tax havens abroad are the highest for citizens of any nation
— as high as $1.5 trillion. Though India is a signatory to the UN
Convention Against Corrupt, it is yet to ratify it. The Convention came
into force on December 14, 2005 when 38 nations ratified it. Its asset
recovery provision is appealing. Yet, India is yet to sign.
