Showing posts with label THOROUGHLY CORRUPT. Show all posts
Showing posts with label THOROUGHLY CORRUPT. Show all posts

Thursday, December 6, 2012

DTN News - SPECIAL REPORT ON CORRUPTION: A Look At The Corruption Perceptions Index 2012

Asian Defense News: DTN News - SPECIAL REPORT ON CORRUPTION: A Look At The Corruption Perceptions Index 2012
Source: DTN News - - This article compiled by Roger Smith from reliable sources Transparency International
(NSI News Source Info) SINGAPORE - December 5, 2012: Corruption can happen  anywhere. When politicians put their own interests above those of the public. When officials demand money and favours from citizens for services that should be free. Corruption is not just an envelope filled with money, though – these people make decisions that affect our lives.
CPI 2012 map banner
We know corruption is a problem around the world. But how bad is it and what can be done? The Corruption Perceptions Index measures the perceived levels of public sector corruption in countries worldwide.
Based on expert opinion, countries are scored from 0 (highly corrupt) to 100 (very clean). Some countries score well, but no country scores a perfect 100.
Two-thirds of the 176 countries ranked in the 2012 index score below 50, showing that public institutions need to be more transparent, and powerful officials more accountable.
We must ensure that there are real consequences to corruption. ‘No to impunity’ cannot just be a slogan – it must be carried out with all our combined strength and inspire citizens to speak up and to no longer tolerate corruption.”
– Huguette Labelle, Chair, Transparency International
The Corruption Perceptions Index forces governments around the world to take notice of corruption – their country’s score reflects on them. But recognising the problem is only the first step towards a solution. That is why we help citizens to demand accountability from their leaders. And we show governments what they can do to tackle corruption. Together, we can make corruption a thing of the past.

FROM A CULTURE OF TRANSPARENCY TO A DEFICIT OF RIGHTS AND SECURITY

In the Corruption Perceptions Index 2012 Denmark, Finland and New Zealand tie for first place with scores of 90, helped by strong access to information systems and rules governing the behaviour of those in public positions. Read more about these countries here.
Afghanistan, North Korea and Somalia once again cling to the bottom rung of the index. In these countries the lack of accountable leadership and effective public institutions underscore the need to take a much stronger stance against corruption. Read about how finishing bottom plays out in daily life in this blog post on Afghanistan.

FINANCIAL CRISIS AND FAILING REVOLUTIONS

Underperformers in the Corruption Perceptions Index 2012 also include the Eurozone countries most affected by the financial and economic crisis. In a June 2012 report on corruption in Europe, Transparency International warned Europe that the crisis should be a wake-up call on the need to address corruption risks in the public sector to tackle the financial crisis. Read more on the challenges faced by the lowest-ranking EU countries Greece, Bulgaria and Italy.
Genuine transparent political reforms after democratic elections have not taken hold in Arab Spring countries, as they continue to languish towards the end of the scale even after the onset of the revolutions – especially Egypt, which significantly dipped in its ranking.

A WARNING FOR BUSINESSES

While the Corruption Perceptions Index measures how corrupt experts think public sectors are, businesses need to take careful note of the results. Doing business in a country where corruption is rife means higher costs, delays and losing business to competitors who pay bribes. All but one of the world’s fastest growing economies score less than 40 out of 100.
To keep the global economy corruption-free, strong enforcement of global standards like the G20 anti-corruption action plan and rules criminalising foreign bribery will be vital. Multinational companies, meanwhile, must be transparent about their operations. Of the world’s 105 biggest companies, 85 do not disclose income tax payments in any foreign country of operation on their corporate website, according to a Transparency International report from July 2012.

FURTHER READING

The index is drawn from 13 surveys carried out by independent institutions such as the World Bank and Bertelsmann Foundation. Read more about how the index is prepared here.

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CORRUPTION PERCEPTIONS INDEX 2012

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Report published – Dec 2012
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Disclaimer statement
Whilst every effort has been made to ensure the accuracy of the information supplied herein, DTN News ~ Defense-Technology News cannot be held responsible for any errors or omissions. Unless otherwise indicated, opinions expressed herein are those of the author of the page and do not necessarily represent the corporate views of DTN News ~ Defense-Technology News


*Link for This article compiled by Roger Smith from reliable sources Transparency International
*Speaking Image - Creation of DTN News ~ Defense Technology News 
*This article is being posted from Toronto, Canada By DTN News ~ Defense-Technology News Contact:dtnnews@ymail.com 
©COPYRIGHT (C) DTN NEWS DEFENSE-TECHNOLOGY NEWS

Sunday, July 8, 2012

DTN News - INDIA TODAY: Goodman The Lalten Lost His Way In Darkness - Manmohan Singh The Incredible Prime Minister of India

Asian Defense NewsDTN News - INDIA TODAY: Goodman The Lalten Lost His Way In Darkness - Manmohan Singh The Incredible Prime Minister of India
*Manmohan Singh a man in shadow, underachiever says Time Magazine.
Source: DTN News - - This article compiled by Roger Smith from reliable sources Business Line
(NSI News Source Info) TORONTO, Canada - July 8, 2012:  The Prime Minister, Dr Manmohan Singh, who has long been lauded for his pivotal role in liberalising the Indian economy, has been dubbed an “underachiever” by a top US magazine which says he appears “unwilling to stick his neck out” on reforms that will put the country back on growth path.

79-year-old Dr Singh is featured on the cover of Time magazine’s Asia edition, which will be out next week. With his portrait in the background, the title on the cover reads ‘The Underachiever — India needs a reboot’.

‘Is Prime Minister Manmohan Singh up to the job?’ Time’s report ‘A Man in Shadow’ asks, adding that apart from facing the challenges of a slowdown in economic growth, huge fiscal deficit and a falling rupee, India’s Congress party-led UPA coalition “has found itself fending off corruption scandals and accused of showing a lack of economic direction.”

”....investors at home and abroad are beginning to get cold feet. Voters too are losing confidence, as rising inflation and a litany of scandals chip away at the government’s credibility,” the magazine said.

Pointing towards Dr Singh’s fall “from grace,” the magazine said, “in the past three years, the calm confidence he (Dr Singh) once radiated has been absent. He seems unable to control his ministers and — his new, temporary portfolio at the Finance Ministry notwithstanding — unwilling to stick his neck out on reforms that will continue the process of liberalisation he helped start.”

The magazine said at a time when India cannot afford a slowdown in economic growth, “laws that could help create growth and jobs are stuck in Parliament, sparking concerns that politicians have lost the plot in their focus on shorter—term, populist measures that will win votes.”

“Now that Singh is interim Finance Minister as well as PM, he has greater scope and a fresh opportunity to turn things around — but it’s by no means certain that he can,” Time said.

Over the past 20 years, Dr Singh’s “avuncular visage and signature powder blue turban were synonymous with India’s rising star, a fixture on front pages since the early 1990s, when, as Finance Minister, he played a pivotal role in liberalising the economy and setting the nation on the path of fast growth,” the magazine said.

It said in a national capital full of bluster and backroom deals, the quiet economist has long been admired for his restraint and personal integrity. The country clocked a 9.6 per cent growth in his first term as Prime Minister.

“For the past two years, the Congress-led coalition has found itself fending off scandals, most notably the corrupt awarding of 2G spectrum at prices below market value,” the magazine said.

It added that Dr Singh’s “squeaky-clean image” took a hit when anti-corruption crusader Anna Hazare levelled charges at Dr Singh and more than a dozen of his ministers over the alleged misallocation of coal-mining rights.

India’s “battered economy” is another menacing concern for Dr Singh, Time said.

“In a bid to cushion the pain of inflation and keep constituents happy ahead of ever looming elections, the UPA has been burning through its boom—time chests, spending on subsidies and social benefits. But business-friendly laws that could spur growth to offset that spending are languishing, and industry is struggling,” it said.

Given the bleak economic situation, industry leaders are demanding a host of bold reforms, such as an end to expensive subsidies, deregulation of diesel prices and resumption of a law to allow multi-brand retailers like Walmart into India, the magazine said.

Dr Singh has said that the government owes it to the country to take all the “necessary decisions which would return the country to a high—growth path,” it said.

Time said Dr Singh has joined the public soul-searching belatedly, and the electorate will let him know what it thinks of his performance in general elections scheduled for 2014.

”...India can only wait to see if Singh can rouse himself, let alone prevail or overcome,” it said.

The magazine said some believe Dr Singh’s “unofficial power—sharing agreement” with UPA Chairperson Sonia Gandhi has “tied his hands and that he lacks the clout to go against other party stalwarts.”

*Link for This article compiled by Roger Smith from reliable sources Business Line
*Speaking Image - Creation of DTN News ~ Defense Technology News 
*This article is being posted from Toronto, Canada By DTN News ~ Defense-Technology News Contact:dtnnews@ymail.com 
©COPYRIGHT (C) DTN NEWS DEFENSE-TECHNOLOGY NEWS 

Friday, March 23, 2012

DTN News - CORRUPTION AS A BARRIER TO INDIAN PROGRESS: Indian PM Faces Heat Over Lost $211 Billion By Selling Coalfieds Too Cheaply To Firms

Asian Defense News: DTN News - CORRUPTION AS A BARRIER TO INDIAN PROGRESS: Indian PM Faces Heat Over Lost $211 Billion By Selling Coalfieds Too Cheaply To Firms
*Indian PM faces heat over coalfields sale
Draft audit report leaked to newspaper says government lost $211b by selling coalfieds too cheaply to firms.
Source: DTN News - - This article compiled by Roger Smith from reliable sources Al Jazeera &  Top 10 Corruption Scams in India - Trak.in
(NSI News Source Info) TORONTO, Canada - March 23, 2012: Opposition legislators have staged noisy demonstrations in the Indian parliament after a draft report from a government auditor said the country had lost up to $211b in revenue from selling coalfields too cheaply.

Thursday's uproar added to pressure on Manmohan Singh, the prime minister, after months of scandals and policy missteps.

The prime minister's office called the estimated loss "exceedingly misleading," after the report - leaked from the federal auditor and published in the Times of India newspaper - prompted calls for an explanation and rattled investors.

The leaked draft from the Comptroller and Auditor General's (CAG) office criticised the allocation of 155 coalfields to about 100 private and some state-run firms between 2004 and 2009, questioning why they were not auctioned off to the highest bidder.

The firms mentioned include a subsidiary of the world's largest steel maker, Arcelor Mittal, whose shares were trading down 3.2 per cent in Amsterdam.

"This is the mother of all scams," said Venkaiah Naidu, a senior leader in the opposition Bharatiya Janata Party."The prime minister should reply," he said.

'Embarrassment'

Singh himself, who oversaw the coal ministry during some of the period covered in the report, made no comment during a parliamentary appearance earlier in the day.

The published excerpts of the coal sale report have so far stopped short of direct graft accusations against Singh.

The draft said the policy undervalued the coal by at least 10.7 trillion rupees, or $211bn at today's exchange rate.

The auditor later backed away from the loss calculation and said its thinking had changed.

In a letter to the prime minister on Thursday, the auditor described the low-priced sales as an "unintended benefit" to companies that did not mean an equivalent loss to the exchequer.

"The leak of the initial draft causes great embarrassment as the audit report is still under preparation. Such leakage causes very deep anguish," the auditor said.

The letter was quickly tweeted by Singh's office.

Singh first faced criticism two years ago when his government was accused of graft in the sale of the nation's telecommunication spectrum. Those allegations led to the cancellation of licenses. The telecoms sale may have cost the government up to $36bn.

Those charges led to huge street protests and landed a minister and several company executives in jail.

India is the world's third-largest coal producer after China and the United States, but output has struggled to keep up with consumer demand for electricity.

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An average Indian citizen is hard working and diligent, but it is the people in charge of the system (The Babu’s) or with whom the power lays, that act as a cancer spreading the venom, slowing down progress and what all not. But, somewhere down the line, we ourselves are responsible for allowing and being taken for a ride by these people, aren’t we?
However, it is during a multi-thousand crore scam, that a tax-payer actually realizes the heartburn of being cheated from his valued contribution of funds towards the development and well-being of the nation. But, that’s what a scam, be it big or small, means – the act of swindling by some fraudulent scheme or action.

THE TOP SCAMS IN INDIA - TRAK.IN 

1) 2G Spectrum Scam

We have had a number of scams in India; but none bigger than the scam involving the process of allocating unified access service licenses. At the heart of this Rs.1.76-lakh crore worth of scam is the former Telecom minister A Raja – who according to the CAG, has evaded norms at every level as he carried out the dubious 2G license awards in 2008 at a throw-away price which were pegged at 2001 prices.

2) Commonwealth Games Scam

clip image005 Top 10 Corruption Scams in India
Another feather in the cap of Indian scandal list is Commonwealth Games loot. Yes, literally a loot! Even before the long awaited sporting bonanza could see the day of light, the grand event was soaked in the allegations of corruption. It is estimated that out of Rs. 70000 crore spent on the Games, only half the said amount was spent on Indian sportspersons.
The Central Vigilance Commission, involved in probing the alleged corruption in various Commonwealth Games-related projects, has found discrepancies in tenders – like payment to non-existent parties, will-ful delays in execution of contracts, over-inflated price and bungling in purchase of equipment through tendering – and misappropriation of funds.

3) Telgi Scam

As they say, every scam must have something unique in it to make money out of it in an unscrupulous manner- and Telgi scam had all the suspense and drama that the scandal needed to thrive and be busted.
Abdul Karim Telgi had mastered the art of forgery in printing duplicate stamp papers and sold them to banks and other institutions. The tentacles of the fake stamp and stamp paper case had penetrated 12 states and was estimated at a whooping Rs. 20000 crore plus. The Telgi clearly had a lot of support from government departments that were responsible for the production and sale of high security stamps.

4) Satyam Scam

clip image007 Top 10 Corruption Scams in India
The scam at Satyam Computer Services is something that will shatter the peace and tranquillity of Indian investors and shareholder community beyond repair. Satyam is the biggest fraud in the corporate history to the tune of Rs. 14000 crore.
The company’s disgraced former chairman Ramalinga Raju kept everyone in the dark for a decade by fudging the books of accounts for several years and inflating revenues and profit figures of Satyam. Finally, the company was taken over by the Tech Mahindra which has done wonderfully well to revive the brand Satyam.

5) Bofors Scam

The Bofors scandal is known as the hallmark of Indian corruption. The Bofors scam was a major corruption scandal in India in the 1980s; when the then PM Rajiv Gandhi and several others including a powerful NRI family named the Hindujas, were accused of receiving kickbacks from Bofors AB for winning a bid to supply India’s 155 mm field howitzer.
The Swedish State Radio had broadcast a startling report about an undercover operation carried out by Bofors, Sweden’s biggest arms manufacturer, whereby $16 million were allegedly paid to members of PM Rajiv Gandhi’s Congress.
Most of all, the Bofors scam had a strong emotional appeal because it was a scam related to the defense services and India’s security interests.

6) The Fodder Scam

clip image010 Top 10 Corruption Scams in India
If you haven’t heard of Bihar’s fodder scam of 1996, you might still be able to recognize it by the name of “Chara Ghotala ,” as it is popularly known in the vernacular language.
In this corruption scandal worth Rs.900 crore, an unholy nexus was traced involved in fabrication of “vast herds of fictitious livestock” for which fodder, medicine and animal husbandry equipment was supposedly procured.

7) The Hawala Scandal

The Hawala case to the tune of $18 million bribery scandal, which came in the open in 1996, involved payments allegedly received by country’s leading politicians through hawala brokers. From the list of those accused also included Lal Krishna Advani who was then the Leader of Opposition.
Thus, for the first time in Indian politics, it gave a feeling of open loot all around the public, involving all the major political players being accused of having accepted bribes and also alleged connections about payments being channelled to Hizbul Mujahideen militants in Kashmir.

8) IPL Scam

Well, I am running out of time and space over here. The list of scandals in India is just not ending and becoming grave by every decade. Most of us are aware about the recent scam in IPL and embezzlement with respect to bidding for various franchisees. The scandal already claimed the portfolios of two big-wigs in the form of Shashi Tharoor and former IPL chief Lalit Modi.

9,10) Harshad Mehta & Ketan Parekh Stock Market Scam

Although not corruption scams, these have affected many people. There is no way that the investor community could forget the unfortunate Rs. 4000 crore Harshad Mehta scam and over Rs. 1000 crore Ketan Parekh scam which eroded the shareholders wealth in form of big market jolt.
*Link for This article compiled by Roger Smith from reliable sources Al Jazeera &
Top 10 Corruption Scams in India - Trak.in
*Speaking Image - Creation of DTN News ~ Defense Technology News 
*This article is being posted from Toronto, Canada By DTN News ~ Defense-Technology News Contact:dtnnews@ymail.com 
©COPYRIGHT (C) DTN NEWS DEFENSE-TECHNOLOGY NEWS