Economy would rebound in the coming months: VP
NEW DELHI [Maha Media]: Vice President M. Venkaiah Naidu today suggested all corporates to consciously encourage whistle-blowing mechanism and provide adequate safeguards for the protection of whistleblowers. Delivering the e-Convocation Address at the Institute of Company Secretaries of India, the Vice President stressed that it was important to ensure transparency and accountability in all matters of corporate governance to enhance the confidence of all the stakeholders, including the shareholders.
Stressing the need to protect public money, Mr. Naidu said that system has to be foolproof to reduce the scope for any irregularity. Highlighting that the actions of a few have brought bad name to Indian business, the Vice President urged the young Company Secretaries to ensure ethics and accountability in corporate governance through their guidance and handholding.
Expressing the hope that economy would rebound in the coming months, he urged India Inc to take the lead in making it robust. Stating that India has fared reasonably better than many other nations, including the developed ones, in the fight against the novel coronavirus and in taking steps to revive the economy, he referred to the recent remarks of IMF Chief, Ms. Kristalina Georgieva, who had said that India took very decisive steps to deal with the pandemic and its economic consequences.