Light at the end of the tunnel
Posted on May 13, 2011
For a while now, India has been on the brink of signing the United Nations Convention against Corruption (UNCAC), but did not actually get down to doing it. On Thursday, May 12 2011, India finally ratified the UNCAC, thus setting off a new trend–the need to now look closely at our laws and begin the framework for stringent anti-corruption legislations.
It’s been a long wait but definitely worth it for all of us, who have tirelessly signed petitions, supported campaigns and cried ourselves hoarse for stronger anti-corruption laws to be put in place. It is a triumphant moment indeed and worthy of much celebration. Just as well - it was high time that we did it.
Ipaidabribe.com has stressed that if we are to make a significant dent into corruption, the legal definition of the term has to be considerably enlarged. Our Bribe Bandh campaign was launched on 10 March 2011 and we are immensely grateful to each one of you 38,327 for supporting our campaign, and backing us on this effort. Each signature was significant. It indicated that the country was speaking up (loudly) about an issue dear to all of us and victory would soon be in sight. It is. We must believe that as we move forward to the next significant stage of this journey.
The reason why ratifying of the Convention is a significant step forward is best explained in the words of the Convention itself:
“The Convention introduces a comprehensive set of standards, measures and rules that all countries can apply in order to strengthen their legal and regulatory regimes to fight corruption. It calls for preventive measures and the criminalization of the most prevalent forms of corruption in both public and private sectors. And it makes a major breakthrough by requiring Member States to return assets obtained through corruption to the country from which they were stolen.
These provisions—the first of their kind—introduce a new fundamental principle, as well as a framework for stronger cooperation between States to prevent and detect corruption and to return the proceeds. Corrupt officials will in future find fewer ways to hide their illicit gains. This is a particularly important issue for many developing countries where high officials have plundered the national wealth.” See demonstrated in the box:
From 2004-2008, India lost assets at a rate of $19 billion per year. Total capital flight out of India represents about 16.6% of India's GDP as of year-end 2008. In present value terms, India lost an equivalent of 36% of its 2008 GDP. Some 68% of India's aggregate illicit capital loss occurred after India's economic reforms in 1991. Deregulation and trade liberalisation actually contributed to and accelerated transfer of illicit money abroad. (Economic Times, Nov 30, 2010) |
But while the ratification of the Convention is reason to feel relieved, it will take time to feel truly euphoric. It is only the beginning of the effort to change our laws. A ratified convention does not automatically become the law of the land. Our Parliament has to approve amendments to key legislation before we have enforceable provisions that can curb corruption.
Therefore, the government will need to move quickly on two fronts:
1. The Prevention of Corruption Act will need to be amended to enlarge the definition of ‘corruption’. We will need to bring several more matters under the legal definition of corruption, including bribery of foreign officials, corruption in the private sector, illicit enrichment, hiding the proceeds of corruption, undue influence and obstruction of justice.
2. We will need to enact an effective Asset Recovery Law as soon as possible.
Towards this, ipaidabribe.com will shortly come out with a set of draft amendments to the laws of the country, for giving effect to the provisions of the Convention.
As concerned citizens, we must not relax our vigil. The current feelings of disgust against corruption in the country is manifesting in large scale citizens mobilization. We must build on the momentum achieved to ensure that the Convention enters into force as soon as possible, by making suitable amendments in the law, thus paving the way for stiff penalties, greater transparency and empowerment to build processes for the recovery of illicit funds, amongst others.
-T.R. Raghunandan