Majority of respondents think that bribery and corruption is widespread in India
GN Bureau | April 21, 2016
A staggering 72 percent of the respondents believe that management is likely to cut corners to meet targets, said the The Global Fraud Survey by Ernst & Young. Also, 70 percent of India respondents to the survey think that bribery and corruption are widespread in the country.
Even allowing for a recent slowdown, the Indian economy continues to grow faster than many other G20 countries. However, with Indian GDP growth rates below the trend of the last decade, pressure on companies to meet expectations is rising, increasing in turn, the risk of fraud, bribery and corruption, the survey said.
It noted that although India continues to be a favored destination for foreign investment, with 71 percent of respondents to “our 2012 India Attractiveness Survey keen to invest in the country, growth opportunities are constrained by regulation and bureaucracy”.
It added that the combination of a market with significant investment potential and a high level of bureaucracy has resulted in “many seeking to bypass, accelerate or influence decisions”.
Given the extensive media coverage, it is not surprising that fraud, bribery and corruption are seen as significant risks in India.
“With fraud, bribery and corruption risk so high on the domestic and international agenda, it is essential that companies with a presence in India actively address these risks,” it said.
Air pollution in Delhi has been in headlines, as every year in recent times. Mumbai too has suffered from air pollution, despite being a coastal city. Apart from many other metros such as Bangalore and Kolkata, tier-I and -II cities and rural areas also have high pollution levels. Every year reports and st
The central government will provide free food grains to about 81.35 crore beneficiaries under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for a period of five years with effect from January 1, 2024, the cabinet decided on Wednesday. Terming it as a “historic decision”, a
Survival at Stake: How Our Treatment of Animals Is Key to Human Existence By Poorva Joshipura HarperCollins, 328 pages, Rs 499 With science now recognising animal consciousness, intelligence, emotion, and even morality, there must rise an awareness of
India`s tryst with trade through the Arctic regions, including the Northern Sea Routes (NSR), has become an impact-making endeavor recently. The Arctic of yore is now a pivot – point of geopolitics, of climate change discussions, and for economic opportunities; 40% of oil and gas reserves said to be
Investing Decoded: Simple Path To Building A Portfolio In Millions By Anirudh Rathore Penguin India, 320 pages, Rs 499
Deepfake has emerged as a serious threat to democracy and social institutions across the world. Propagation of deepfake content via social media platforms has aggravated this challenge. Ministry of Electronics and Information Technology (MeitY) has, from time to time, advised social media in