India to ratify UN anti-graft convention, says Pranab

Finance Minister Pranab Mukherjee on Monday said India would shortly ratify the UN convention against corruption it signed in 2005.

“As far as the UN convention on graft is considered, there is a long legal procedure. The convention would be ratified shortly,” Mukherjee said at a press meet here.

India signed the convention in 2005, along with 139 countries. The purpose of the convention is to strengthen measures to prevent and combat corruption through international cooperation, among other measures. The convention also includes model preventive policies, such as establishing anti-corruption bodies and enhanced transparency in the financing of election campaigns and political parties. It also provides for assistance and cooperation for asset recovery, particularly in case of embezzlement of public funds.

Mukherjee, who is the chairperson of the 10-member Lok Pal Bill, aimed at fighting corruption, which includes five representatives from civil society.

“A joint drafting committee has been formed with five representatives from civil society nominated by activist Anna Hazare and five representatives nominated by the Prime Minister,” he said.

‘Bengal may be in debt trap’

Quoting a report by the 13th Finance Commission, Mukherjee on Monday said West Bengal might be in a debt trap by 2014-15.

“Based on the financial condition of all states, the 13th Finance Commission has said three states might be in debt trap by 2014-15. The Finance Commission has said that three states will be in debt trap by 2014-15. West Bengal is on of the three,” he told reporters here.

Brushing aside allegations that West Bengal had been subject to economic deprivation due to a ‘stepmotherly’ treatment by the Centre, Mukherjee said under the 13th Finance Commission, the states’ share had risen by 131 per cent, compared to the 12th Finance Commission at Rs 1,18,000 crore.

“The state has raised the issue in every election, but there is no question of discrimination,” said Mukherjee.

West Bengal’s debt burden increased to Rs 1,92,000 crore, against Rs 1,48,110 crore in 2008-09, a rise of about 29 per cent. Dogged by high revenue and fiscal deficits, high committed expenditure, high debt compared to revenue receipt, the state is in a debt trap.

In addition, the recommendations of the Fifth Pay Commission, pertaining to increased salaries of government employees, have further dented the state’s finances.