There is need to enact a comprehensive law to ensure a speedy trial and stringent punishment in corruption cases, according to Loksatta Party President Jayaprakash Narayan.
Referring to the ongoing investigation in the US into allegations that an American firm was allowed to mine titanium in Andhra Pradesh with a bribe of $18.5 million, he said India should emulate the US in its effort to curb corruption.
It may be recalled that US Federal jury has indicted K V P Ramachandra Rao, Congress MP and a close aid of late chief minister of AP YS Rajasekhara Reddy, in this case. The US National Crime Bureau is also reported to have asked the Central Bureau of Investigation to keep Rao under provisional arrest.
“The history of the US is replete with speedy action on corrupt leaders, right from the Watergate scandal in 1970s. Even in the recent case of Rajat Gupta (former MD of McKinsey and founder-Chairman of the Indian School of Business) who was convicted in a case of insider trading, no court/person could save him,’’ Narayan said.
Black money
Referring to black money, he said about Rs 5 lakh crore per annum was draining out of the country illegally every year. “We need $1 trillion capital to create infrastructure in the country. If this black money could be brought back, this could be done easily,’’ he added.
There was no political will on the part of any of the political parties to put in place a framework for reducing corruption/black money. “They accuse each other but when it come to policy-making all are silent as it could adversely impact them,’’ the Loksatta Party leader said.