Transparency key to achieve high economic growth: Vinod Rai
New Delhi: Concerned over corruption, Comptroller and Auditor General (CAG) Vinod Rai on Saturday cautioned that India cannot achieve and sustain high growth rate without transparency and accountability.
"Economic growth cannot be made sustainable, cannot be made inclusive, unless it is based on transparency and accountability," he said while speaking at the 11th All India Lokayuktas Conference 2012 here.
The issue of corruption in India is not new, he said, adding that the country needed to deal with it effectively to achieve and sustain 8 per cent economic growth rate as "there is just no (other) way."
Government auditor CAG in its reports on 2G spectrum, coal blocks allocation and other issues had highlighted various practises of the government that lead to huge loss to the exchequer. These reports had evoked sharp reaction from the government.
The Indian economy had been growing at over nine per cent till the global financial meltdown pulled the growth rate to 6.7 per cent in 2008-09.
As regards the functioning of the CAG, Rai said, the government auditor has started coming out with booklets to create public awareness on issues related day-to-day issues.
"We have now started reducing our complicated audit reports into small booklet named noddy books. On all issues related to social sector, we have brought booklet of 14-15 pages," he said.
The effort should be to achieve excellence and not "celebrate mediocrity", he added.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: Mumbai High court allows entry of women in Haji Ali Dargah
- DNA: Analysis of fraudulent doctor in Noida treating patients with wrong treatment
- DNA: Analyzing Balochistan's citizens struggle for freedom
- DNA: Two Syrian boys grieving death of brother killed in airstrike
- DNA: Analyzing world's first driverless taxi developed by Singapore company
- School dropout biggest crisis in India, says Singapore Deputy PM
- Italy quake death toll hits 278, state funeral planned
- Jigisha killer Ravi Kapoor convicted in taxi-driver murder case
- Records aside, US Open getting personal for Serena Williams
- World Risk Report 2016: India ranks 77th in world disaster risk index