“Corruption” At Lower Level Has Peaked Up Both At Centre And States: PHD Chamber

PHD Chamber of Commerce and Industry on Thursday lamented that “corruption” at lower levels of bureaucracy at Centre and largely in States has increased manifold even under Prime Minister Modi whereas it virtually disappeared at senior levels in the Indian federal structure.

The Chamber’s President, Mr. Anil Khaitan while speaking at a Conference on “Benami Transactions (Prohibition) Amendment Act, 2016: Concerns and Challenges” exuded confidence that this Act would amount to removing black money stored in real estate sector and therefore, suggested that more legislation of this nature are called for to either root out corruption and eliminate the growing menace of black money. However, each provision should not be laced with provision of imprisonment.

According to him, corruption under the present leadership of Prime Minister Modi whose integrity and ferocious corruption free reputation should have led to rooting out of corruption even at lower levels of bureaucracy both at Centre and States on the contrary it has stoked manifold.

The businesses, particularly in the MSME segment which the PHD Chamber of Commerce and Industry represents in large number are quite aggrieved and hurtful as it had anticipated with Modi becoming the Prime Minister of India close to four years ago that this segment would be relieved of mounting corruption but the ground reality that still persist is that the lower levels of bureaucratic functionaries are still soaked in corruption.

Mr. Khaitan hoped and expressed confidence that the Prime Minister Modi would take note of this sad affair which continues even in larger chunk and accordingly take corrective measures even at block level of each Indian State.

The Conference which was presided over by former Secretary, Ministry of Law and Justice, Mr. P K Malhotra pointed out saying that if Benami Transactions (Prohibition) Amendment Act, 2016 is implemented in the right spirit, it will serve the intended cause that will do a great good to the nation in particular.

Among others who were also present on the occasion comprised, Chairman and Co-Chairmen, Company Law and Corporate Governance Committee, PHD Chamber, Pavan Kumar Vijay and Mr. Vikram Singh Mehta and Mr. Raj K Agarwal; Advocate, Ex-Member, Income Tax Appellate Tribunal, Mr. Ashwani Taneja including PHD Chamber’s Director, Mr. Abhi Narayan Mishra.