And for a Friday returning from Delhi after the Board meeting of AlfI….. some thoughts…..
AlfI – Alliance for Integrity is sponsored by the German Federal Ministry of Economic Cooperation and Development. It is a business driven multi-stake holder initiative between the private sector, public sector, civil society and international institutions – the sole aim being promotion of Integrity among companies and their business partners in the eco-political environment of the country.
Across the globe corruption has been identified as a key impediment to Economic growth. United Nations Sustainable Development Goals prioritises anti corruption measures as most important. This is reflected in the changing regulatory landscape across the world – US Foreign Corrupt Practices Act, U.K. Bribery Act and last month both houses of Indian Parliament has unanimously passed the Prevention of Corruption (Amendment) 2018 Act.
Most people are not aware that the New corruption act in India has one very BIG change. Anyone who offers a bribe or attempts to bribe a govt official is a cognizable offence and can be jailed upto 7 years. More so section 9 of the Act makes Commercial Organisations also liable which means the MD or Owner can cool his heals in Jail if anyone in his company resorts to Bribing. This is a great positive develoment for all vigilant Tax paying citizens. Honest Proffessionals must have the guts to stand up and be counted now.
Corruption is a curse of all poor countries. The developed countries have social systems which ensures common man does not face too much hardship. There is very little coercive corruption in all those places. Let us all work together to reduce corruption, use the new Act in novel ways and use Social media to expose corrupt practices. Let us not be only sceptical and negative, lets build our nation the ethical way, the legal way, the SEEGOS Way.