TEAM HERALD
PANJIM: S Gopalakrishnan, President, CII said that the passing of the anti-corruption Lokpal Bill was historic and would help to improve the climate for doing business in the country when enacted.
“The setting up of an independent office to probe and prosecute corruption cases is expected to add transparency and accountability to the decision-making and administrative processes while alleviating systemic malpractices,” he said.
The wide jurisdiction of the Bill at all levels is welcome, if implemented in the right spirit it will help to meet India’s commitments under the UN Convention Against Corruption ratified in 2011 and due for review in 2014.
In particular, the establishment of special courts to prosecute cases will fast-track anti-corruption efforts and act as a deterrent to illegal gratification.
The industry hopes that the entire gamut of related legislation including whistleblower protection and grievance redressal would also be passed expeditiously. The Lokpal Bill would encourage investments and add to investor confidence.
