Confiscate crime assets: PM to G20

Kolkata: Prime Minister Narendra Modi, addressing the G20 Anti-Corruption Ministerial Meet, proposed that G20 nations could exemplify using non-conviction-based confiscations to expedite the recovery of foreign assets arising from crime proceeds. He emphasised the importance of prompt asset tracing, identification, and return in tandem with swift extradition post-judicial due process.

Modi underlined the adverse impact of corruption, particularly on the poor, hampering resource utilisation, market integrity, service delivery, and overall quality of life. He referenced Nobel Laureate Rabindranath Tagore's writings against greed and the Upanishads' call for restraint from it.

The Prime Minister highlighted Kautilya's Arthashastra, stressing the government's role in optimising state resources for citizens' welfare.

Modi reiterated India's strict anti-corruption policy, harnessing technology for transparency and accountability. He detailed efforts to seal gaps in welfare schemes and digitize services, resulting in direct benefit transfers and significant savings. “Our Government e-Marketplace, or GeM portal, has brought greater transparency in government procurement, he added.

Citing the Economic Offenders Act and the Prevention of Money Laundering Act, the Prime Minister noted the successful retrieval of assets from economic offenders, applauding a collective G20 effort. He advocated for enhancing domestic asset recovery mechanisms, emphasising international cooperation's pivotal role in curbing corruption at its roots.

Modi highlighted the role of audit institutions in battling corruption and urged cultivating ethical and integral values to establish a just and sustainable society. He concluded by wishing a productive meeting, showcasing commitment to a corruption-free world.