NRN on corruption

Infosys Technologies chairman and chief mentor N R Narayana Murthy came out strongly in support of Anna Hazare, saying the need of the hour was a strong, effective Lokpal. If India were to have a whistleblower policy and a Lokpal which people could approach, then corruption, especially in business, would automatically fall, he said. He also believes that the current spate of corruption scandals is hurting India’s image with the global investors expressing concern about investing in India. “These are truly extraordinary times. The economy is doing pretty well, there’s a lot of confidence among people. We have won the World Cup. Foreign investment into India is doing well. Therefore the world holds us to a high standard. We are not the same India that the world saw in the 1970s and 80s. Hence, we have a responsibility to live up to the pedestal on which we have been put,’’ he said in an exclusive interview. “In the past few months, in most conversations (with CEOs or politicians across the world), there’s a reference to corruption having risen in India, of some kind of nexus between business people, politicians and bureaucracy. This is worrisome.’’ He readily admitted that business is also to blame for rising corruption. “Of course, it takes two hands to clap,’’ said Murthy adding, “But for business to become clean there should be an institutional framework. The difference I find between developed nations and countries such as India is the lack of institutions that enforce transparency, accountability and fairness. We must all work to create strong, effective institutions. Only then we would have found a sustainable solution to this problem.’’ He pointed out to a study which has said that if corruption falls in India, the GDP growth will rise 1.5%. “We are at 8.5% growth rate. If it’s 10%, we have added another $150-billion to our economy. More jobs can be created. As tax collections rise, the government can take up more programmes in basic education, health care and nutrition.’’ Murthy, who met Hazare a couple of years ago, has been discussing this with justice J S Verma, Prashant Bhushan, Arvind Kejriwal, and Lyngdoh since last year. In early March, he met Sonia and Rahul Gandhi. “She truly appreciated the need for reducing corruption and improving the perception of India abroad. I am glad that she has made a statement supporting Hazare’s cause. Both fully subscribed to the need to work on this agenda.’’