Funding for government frauds may increase
The government may increase funding for investigative agencies. Most of them are overburdened. There is a need to increase the budget, so that they can strengthen infrastructure. It’s a long-pending request from them, said a finance ministry official.
The probe agencies have a huge number of vacant posts. Take SFIO, the agency that probes white-collar crimes. Out of its 133 sanctioned posts, only 66 posts are currently filled by regular incumbents six officers have also been posted on a loan basis, the rest of the posts are vacant. Given the surge in cases, SFIO has said that it is working with half the strength and that it needs manpower.
The multi-year pattern of high vacancies and lack of human resources should be addressed at a structural level so that these gaps are closed as soon as possible. They should be suitably equipped in terms of human capital and systems so that they can provide the necessary support to the economy, the standing committee said.Various regulatory entities of the Ministry of Corporate Affairs are critically important for the smooth functioning of the economy. They should be suitably equipped in terms of human capital and systems so that they can provide the necessary support to the economy, the panel has said.