CORRUPTION IN PRIVATE SECTOR

No doubt the movement for Lokpal Bill by Anna Hazare is praiseworthy but people are only talking about corruption by government officials and politicians. What about the private sector, which includes traders, landlords, big businessmen, builders and industrialists. They are the main source of corruption. Traders evade taxes and in turn, generate black money. Many film stars evade income taxes, which also contributes to black money. Now look who is talking against corruption. It is a well known fact that some of the industrialists have become multi-billionaire by adopting corrupt tactics in connivance with the top bureaucrats and policy-makers. But remember that only a few of them are friendly with top businessmen. The process of liberalization has opened the floodgates to accumulate huge wealth for the top industrialists and businessmen. This huge wealth is the biggest contribution towards black money but surprisingly no one is pointing fingers to this category of people.

The top 5% of the Indian population have multiplied their wealth manifold and they have problems to keep money. This money goes to the Swiss banks. Now the time has come to bring the private sector under the ambit of RTI and the Lokpal Act. Often the argument is given that the private sector does not get any government funding so they should not be brought under the RTI Act. As the private sectors and traders use land, water and electricity of this country and their activities are within the boundary of this country, there should not be any hitch in applying any law to this category of people.

There is diversity and exploitation in every walk of the society. Casteism is the main source of inequality. Corruption breeds easily in an unequal society. Unless casteism is eradicated fully, there is no chance of reducing corruption.