70% of India Inc not averse to 'one' corrupt act

Close to 70% of corporate India feels that at least one form of unethical conduct is justified to meet financial targets even as the perception of bribery and corruption being widespread in the country has gone down over the years, says a report by Ernst & Young.

According to the report entitled tax advisory firm EY '14th Global Fraud Survey', "there is a gradual but positive shift in the perception of bribery and corruption being widespread in the country among 58% respondents in India. This is less than 67% and 70% observed in 2014 and 2012, respectively. "The government has already undertaken significant steps to augment transparency and crackdown corruption which is reflected in the survey," EY noted.