Tuesday, February 8, 2011

Open letter to the government on Corruption and deficit Governance

Bloomberg UTV.
Tuesday, 18 January 2011, at 10:09 IST
Some of India' top business leaders yesterday wrote an open letter to the country's political leadership. And the message is simple - act before it is too late!
Corporate India seems highly perturbed by the recent spate of corruption scandals. Fourteen business and corporate leaders that includes names like HDFC Chairman Deepak Parekh, Wipro Chairman Azim Premji, former RBI Governor Bimal Jalan among others, got together to ask the political leadership to act on corruption.
The letter talks about wider issues like corruption in public life, given the recent scams involving the telecom sector and big names like former Telecom Minister A Raja. The letter also raises concern on rising fiscal deficit, which in turn is threatening economic growth and stability, the never-ending deadlock in Parliament over JPC probe on 2G scams that has stalled the passage of crucial bills and the urgent need for all round development especially in the weaker sections of the society as the gap between rich and the poor widens.

On Corruption
The letter says "The biggest issue corroding the fabric of our nation is corruption. This malaise needs to be tackled with a sense of urgency, determination and on a war footing."

Governance Deficit
"Creation of genuinely independent and constitutionally constituted regulatory bodies, manned by persons who are judicially trained in the concerned field, would be one of the first and important steps to restore public confidence"

On Dissent And Disruption
"Time is overdue for Indias elected representatives to distinguish between dissent and disruption, while in the era of coalitions, tolerance of compromise still remains a challenge"

On Development
"It is widely acknowledged that the benefits of growth are not reaching the poor and marginalised sections adequately due to impediments to economic development."

Deepak Parekh, HDFC Ltd
Azim Premji, Wipro Ltd
N Vaghul, ICICI Ltd
Keshub Mahindra, M&M Group
Jamshyd Godrej, Godrej Group
Yezdi Malegam, Siemens Limited
Bimal Jalan, Former RBI Governor
Justice BN Srikrishna,
Anu Aga, Thermax Group
Ashok Ganguly, Ex HLL
M Narasimhan,
A Vaidyanathan,
Nachiket Mor and
Justice Sam Variava- writes on the country’s political leadership.

Clearly, the purpose of the open letter is more symbolic in nature and once again raises burning issues which have been in the public sphere for a while. But it appears that India Inc hopes to at least make the political leadership introspect before things get out of hand.
India Inc's open letter to the government on Corruption and deficit Governance

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