Capital inflows, international trade and private and public enterprise have helped contribute significantly to India’s growth since liberalisation. With the idea of understanding how corruption is impacting each of these pillars and eventually the economy at large, KPMG in India conducted this survey with certain leading Indian corporates in order to understand their perception of how corruption is corroding the economy as well as the corporate environment.  Some of the key findings include:

* 68% of survey respondents believe that India can achieve more than the projected 9% GDP growth if corruption is controlled

* 51% of the survey respondents fear that rising corruption will make India less attractive for foreign investment

* 90% of respondents feel that corruption negatively impacts the performance of stock markets by increasing volatility and prevents institutional investors from making long-term investments

* 99% respondents felt that the biggest impact of corruption on business was its tendency to skew the level playing field and attract organisations with lesser capability to execute projects

* 84% of the respondents believe that Indian government has not been very effective in enforcing anti-bribery and corruption laws

The survey highlights these insights in detail. It also dwells on specific topics such as the preventive mechanisms, internal controls that can be adopted, effective measures to curb the risks of corruption as well as what one can expect in the coming years.

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0 Comments

  1. meghana says:

    Hi ,

    Please don’t join IT Advisory Bangalore. All the managers are a team of crazy people who just want to play around with you. You cannot take any leave no vacation not getting married and you need to sit in the office till 8.00 even if it is Friday or a public holiday or bangalore bandh. And the HR’s are just dummy’s in the company their words and policies have no value here.

    Please share this info with as many people as u can as it may be important as i did not have anyone to tell me when i joined here but i see there are 5 to 6 members joining every month and leaving in just 2 to 3 weeks. which is really bad

  2. S.R. G. says:

    How our professionals and body of members involve in the corruptions policies, fixing matters like that. Please read this invitation:

    The Interview process has been closed in the first week of March and yet on till date results not declared but our people who hold the Constitutional post agree to Joine this party or permit to organize this type of party. How can they make justice to the people ……….please give your opinion….

    Income tax Appellate Tribunal Bar Association, New Delhi

    Cordially invites you to the dinner meeting at 7.30 PM on Friday, !st April 2011 at the Claridges Aurangzeb road, New delhi

    To felicitate the Chairman & Members of the Selection Board

    His Lordship, Hon’ble Mr. Justice D. K. Jain, Judge, Supreme Court of India

    Shri D. R. Meena, Law secretary, Ministry of Law & Justice

    Shri R. V. Easwar, prisedent, Income Tax Appellate tribunal

    Shri Vivek K. Tankha, additional Solicitor General of India

    Participation charge Rs. 1350/- per person

    By Prisedent and General secretary ITAT Bar Delhi

  3. S.L.GOYAL says:

    Corruption/bribery at every step is a real demotivating factor. I give two examples to illustrate my point:

    In NOIDA, we appointed a tax advocate to represent us for our assessment cases. He took large sums of money from us. He said he gets 25% of it back from the officer concerned. The nexus between the tax advocates and officers is so very demotivating.

    With Excise Dept we are registered as dealer and we pass excise benefit to customers who want it. There are only a few such customers. Every time we go to submit the quarterly Return, we are harassed. Just to submit the Return, we are asked for some money. As a result we avoid going there and prefer to submit the Return by Speed-post.

    If there is no harrassment to extract money, business people will do more business and they will do honestly and happily which will help the economy to grow much more. The respect for authorities will grow and over-all the whole business environment in the country will become pleasant and the foreign investors will happily invest in India.

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