M R Venkatesh on Corruption and its impact of internal security

Corruption plays a significant part in compromising the internal security of a country. M R Venkatesh reveals the truth behind the FDI and FII and whose money is really coming into India.

[srinivasangokul]

Thought provoking talk. Few queries which all need to ponder over :

1. Why are the professional CAs and CS es not pulled up for certifying a bogus, ghost company record and accounts?

2. How did Vijay Mallaiya's King Fisher syphon out 6000crs of bank loan out of Bharat? Hard to imagine all of this going out the OFDI, under invoicing route.

3. Banks are subject to periodic external audits - concurrent, statutory.. you name it. Yet no red flags raised on long outstanding, huge debts. Why?

4. Am a CA myself. But feel professional institutions like ICAI, ICSI etc are not doing enough to keep errant practicing CAs/CS es in check.

Vandhe Matharam

[kshetragaur]

Thanks MRV for exposing the endemic and systematic corruption. Your advice about ECONOMIC INTELLIGENCE BUREAU is really a very practical necessity.
Sharing of information among various financial institutions such as Income Tax Deptt, Enforcement Directorate, Customs, SEBI, RBI and Police is absolutely necessary. An agency for collating the information is also a must.

[anandagopalankidambi]

An eye opener for Modiji and Amit Shah from MRV. For these kind of speeches the speaker should have sufficient time. Should not be constrained to close his speech hurriedly for any reason.

[maha]

Money/corruption is the biggest incentive for wrong people to come into politics and exploit the system. Leave alone security they don't care for anything other than money, power and fake prestige. These people will always try to maintain status quo and are against any kind of changes in the system. We should not wait for some other country to use technology to nail the corrupt and then we copy them. We should be pioneers in using such technology. Such technology might be available with security forces, psychologists, medical professionals, Information technology experts etc.

[thrinethran]

One hundred billion which should have gone into building national infrastructure. Third World.

[tilottamachakrabarti]

Mr M R Venkatesh, a thoroughly knowledgeable, likable, and a simple minded patriot, an unlikely warrior in this world of pretention.

Very good discussion.
Government should think over the points discussed, going beyond the play of ego and small gains.
Aum Shanti

[meetan-]

every Govt institution has become totally corrupt is a well known fact but I never knew it is to the extent as Mr. Venkatesh detailed so vividly.. I am really terrified by the reach and power of corruption here in India that, it seems, we are marching towards anarchy .. thanks to our netas and babus especially..

[abhaygandhi]

In India corruption is our fundamental rights. Rightly said that we experienced corruption in issuing license. Even earlier to that while travelling through any public transport (Railway, State Transport, ) local conveyance e. g. Auto, Jeep, etc.

[badripoondi]

what a pity that a country that has such critical analysts and fair expert critics, has govts that do not take their concerns for urgent and serious consideration for the betterment of the country by taking action on their alerts and curtailing the criminal back flow of wealth that is affecting the economy and the security of the country seriously!

[kamalkore]

When upa1 govt time as chudham Aram finance minister lot of shell companies created by his son relatives converting black money through fdi example Vasan eye care

[rajshekhar]

I was a follower of your blog. See nce few years nothing was there, it's not active. Now i m pleasently surprised and happy.

[kbmnair]

Corrupt people has to be punished and brought out in public. If Law is insufficient make it stronger to put the corrupt in jail. Congress was promoting corruption throughout the world. It is a grace of God that the corrupt Congress party is vanished gradually.

[rishi-eqkx]

Well-spoken about the entirety of corruption at higher levels and the flow of money therein within or or outside the Nation.

[darshandave]

Very good analysis. Our dumb government should look into this matter.

[TamilArjun]

Running a small co, GST number blocked due to non-payment for 8 months. It is 3rs week after clearing all the dues with panelty and still file status is pending at Tax officer ...our auditor is keep on telling it will happen today/tomorrow... ready to pay offline if GST number unblocked... but file is passive.

It is tough Due to this issue... clients not making payments...tax office is not easy. Several small cos facing this.

I suggested let's complaint but my senior partner said no.

[subramanian]

everything i have ever got from license to government grants...always had to pay a bribe.

[tilottamachakrabarti]

In India "speed money" is like omnipresent, omnipotent and omnicompetent...no way out of it.
And RTOs are some of the most corrupt government offices without any doubt.
Still government is sleeping over the matter of corruption. Really sorry state of affairs.
Aum Shanti

[pavank]

Mr MRV Hatts off to you. This speech is no ordinary. Every patrioitc indian needs to listen.

[kishorjee]

Very good analysis..I think this lectures should be in Hindi so that common man can understand... someone should translate in hindi

[msnmurty]

A good eye opener on
economics in india.