HYDERABAD: “India will continue to pay the price of corruption until independent regulatory mechanisms are set up,” said former director-general of police (Intelligence) Anjaneya Reddy on Sunday. Launching a programme Youth Against Corruption, organised by the Akhil Bharatiya Vidyarthi Parishad at the Osmania University, he said, “According to a study, an estimated $300 billion of Indian black money was stashed in various countries. We are trapped in vicious circle where politicians, officers, judges and media are turning out to be corrupt. People in authority, judges and civil servants should be made accountable against independent regulatory mechanisms,” Anjaneya Reddy said.
With the Indian economy open to overseas investments, there is no regulatory mechanism unlike several other countries where a strong, independent regulatory system is in place. “The Central Bureau of Investigation (CBI) used to be an independent agency. But now even the CBI is influenced by the ruling government,” the former DGP added. YAC All-India co-convener Vishnu Datt Sharma said the ABVP has always been at the forefront to fight corruption. He criticised Centret for not taking moral responsibility for the scams unearthed during their reign.