People for India Forum, Jana Vignana Vedika organise seminar

Corruption was a subject of debate about 2,500 years ago when it found a prominent place in the political theory enunciated by the great Greek philosopher Plato, who had elucidated the human tendency to become corrupted by power in his famous literary work ‘The Republic'. Starting in that ancient period, corruption has grown in scale and become multifaceted.

‘First scandal'

In India, the Nagarwala scandal of 1971 was considered the first major case of financial embezzlement involving Rs 60 lakh, which was fraudulently drawn from SBI by an Army officer who duped the bank cashier by mimicking the voice of the then Prime Minister Indira Gandhi.

Corruption is nowadays a more brazen affair making a huge dent in the exchequer, said MLC K.S. Lakshman Rao. Addressing a seminar on corruption jointly organised by People for India Forum (PIF) and Jana Vignana Vedika (JVV) here on Monday, Mr. Lakshman Rao said the 2G spectrum scandal caused a presumptive loss of Rs 1.76 lakh crore.

‘Crony capitalism'

This sort of scams would not have happened if the economy was not thrown open for private enterprises which indulged in ‘crony capitalism' like nowhere else in the world.

It is the root-cause of the magnitude of the problem of corruption we are facing today.

The Lokpal would not be able to completely eradicate corruption unless it is dealt with a fair blend of electoral and judicial reforms.

Of utmost importance is public awareness without which any legislation would fall flat.

Privatisation to blame

The LPG (liberalisation, privatisation and globalisation) policies are largely to be blamed for the mess.

The unbridled privatisation is the crux of the problem, Mr. Rao observed.

PIF district chairman M. Venkateswara Rao, vice-chairman V.V.K. Suresh, convener K.L. Prasad, JVV city general secretary B. Prasad, and The Hindu College principal S. Ravi Babu spoke.

  • 2G spectrum scandal causes a presumptive loss of Rs.1.76 lakh crore, he says
  • Without public awareness any legislation will fall flat, he says