Moneycontrol PRO
HomeNewsBusinessWire NewsGovt working to make pvt sector bribery criminal: PM

Govt working to make pvt sector bribery criminal: PM

Govt working to make pvt sector bribery criminal: PM

October 21, 2011 / 13:33 IST

New Delhi, Oct 21 (PTI) With the alleged involvement of big corporates in a spate of scams apparently weighing on his mind, Prime Minister Manmohan Singh today said government is considering changes in law to make private sector bribery a criminal offence.Speaking at the Biennial Conference of CBI and state anti-corruption bureaux, the Prime Minister said India has ratified UN Conventions against corruption and to meet its requirements a slew of measures which include amendments in laws pertaining to anti-graft measures."To meet the requirements of the Convention, we have introduced a Bill in Parliament to make bribery of foreign public officials an offence. We are considering changes in our laws to criminalize private sector bribery," he said. But the Prime Minister did not not provide any details of how private sector bribery will be dealt with. He said Government is working on ways and means to minimize discretionary powers of public authorities and the issue of a public procurement law to minimize irregularities in the award of government contracts worth thousands of crores of rupees every year.The Prime Minister however said "Whatever we might do to minimise the opportunities for corruption, the sad reality is that we cannot build a totally fool-proof system. There will always be some instances of corrupt practices in the work of public authorities." He urged the CBI that people induldging in corruption must realise that that they can not possibly get away from the law and would sooner rather than later suffer the consequences of their wrongdoing. More PTI ABS

first published: Oct 21, 2011 01:15 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347