Question

how to avoid corruption in corporate governance

Answer 1

1. A thorough study of the extent possible, scope and modes of corruption should be under­taken regarding each department, undertaking or ministry. The study must also suggest preventive remedial measures for the same.2. Administrative delays should be reduced to the minimum to avoid corrupt practices. For this purpose:(a) existing procedures and practices should be reviewed to avoid delays;(b) time-limits should be prescribed for dealing with receipts and should be strictly enforced; and(c) all nothings at a lower level than that of undersecretary should be avoided.3. Attempts should be made to educate citizens in regard to their rights, responsibilities and the procedures of the government.4. Improvement must be made to increase the salary of the employers besides making neces­sary provisions for housing, medical facilities for the government employees, etc.5. Informal codes of conduct for different categories of employees particularly belonging to the departments dealing with economic affairs must be evolved insisting on them not to avail them­selves of entertainment and other facilities provided to them by those with whom they have official dealings.6. Officials should not have any dealings with a person claiming to act on behalf of an indus­trial house unless he is properly authorised to do so.7. Companies and businessmen should be obliged to keep detailed accounts of expenditure.8. Officers for the administrative posts should be selected with great care. Only those whose integrity is tested to the fullest satisfaction must be appointed for the key posts.9. There should be a complete ban against government servants accepting private commercial or industrial employment for two years after retirement.