WEEKEND LIGHTER: NITI Aayog: Restore trust, credibility
WEEKEND LIGHTER: NITI Aayog:
Restore trust, credibility
(August 5/6, 2017)
Section III Dear Sir/Dear
Madam
Flash: This Blog crossed 111111 pageviews on August 4,
2017. Thanks for your support
I
Cover Story
NITI Aayog: Restore trust, credibility*
Business Standard
editorial “Empower NITI Aayog” briefly covers the birth and growth of NITI
Aayog from Prime Minister Modis August 15, 2014 announcement from the ramparts
of Red fort to demolish Planning Commission (calling it a house in disrepair)
and reconstruct it, to certain useful suggestions about the future of the
“rebuilt edifice” contained in the resignation letter tendered by Dr Arvind
Panigariya on July 26, 2017.
At a time when India
needed their services most, Dr Raghuram Rajan and Dr Arvind Panagaria took
‘short’ breaks from academia and served in this country occupying positions
crucial to the country’s economic development. It is another matter that we
couldn’t lure them to stay on. Let us thank them for being with us and
providing leadership in their respective areas of expertise.
Both the exits point to
the need for the country to have a talent pool for avoiding vacuums when top
positions fall vacant at shorter intervals. Except for unexpected reasons, we
need to plan for continuity for positions like those held by Panagaria and
Rajan, for 5 to 10 years. Though both have justified their presence, three
years is too short a period for ‘visions’ getting translated into visible
actions.
Irrespective of people
heading them, institutions have to carry on. GOI has now to help NITI Aayog to
perform its assigned role by providing appropriate leadership and functional
autonomy. This will need much more than the ‘floating talent pool’ or freedom
in carrying out research work and producing reports. If NITI Aayog’s guidance
has to be taken seriously by central ministries and states in the environment
of “Cooperative Federalism” which Prime Minister Modi is comfortable with,
Centre has to first restore trust and credibility in institutions including
NITI Aayog. For that, it is imperative to allow them to apply their ‘mind’ in
performance of their professional functions within legal mandates.
M
G Warrier, Mumbai
*Read the published version using the link provided under Section
II.
II
LINKS YOU MAY LIKE TO ACCESS
NITI Aayog has a long way
to go, to justify its emergence as an institution to "Transform
India"
Please read my letter
also.
M G Warrier
Modi’s letter to Pranab Mukherjee
Livemint: Monetary Policy
Excellent analysis. As I
observed earlier, the variables in MPC's basket (costs, prices, return on
savings, lending rates of banks and so on) are yet to come to terms with the
need for a live-in relationship. No point in blaming MPC. No magician can
handle inflation in isolation. The efforts of Finance Ministry to find out a
peg to hang the bag of its policy failures are getting exposed. Over time, MPC
will tell us where the shoe pinches.
M G Warrier
RBI cuts repo rate by 25 basis points
Reserve
Bank off target
http://www.thehindu.com/todays-paper/tp-opinion/the-reserve-bank-is-off-target/article19398995.ece
III
Recent responses
PM Modi’s message
This refers to Sucheta
Dalal’s article “CAs and Industry Have Got the Modi Message. Who Next?” (July
31).
The reference to
“Erring CAs” is just another disturbing signal bringing to public glare the
depth of the malignancy of unethical and corrupt practices eating into the
country’s economic system. The action initiated shows that Prime Minister
Modi’s concern is not limited to the three aspects of corruption (unaccounted
money, terrorism and forged currency) he mentioned in his November 8, 2016
speech but there is a willingness on the part of his government to challenge
corrupt practices in any walk of life. The clarion call to come together to
eradicate filth, poverty, corruption, terrorism, casteism and communalism
contained in Modi’s Mann Ki Baat on July 30, 2017 should be seen in this
context.
Reserve Bank of
India (RBI), through a circular dated July 27, 2017 has raised the ‘rest’
period for statutory central auditors(SCAs) of banks to 6 years”. The grounds
for longer rest period for SCAs given in the RBI circular more than justifies
the enhancement of rest period for SCAs from
two years prevailing since 2001 to six years. They are also suggestive of
unethical practices being followed by professionals and banks in tandem.
Let us concede
that regulatory oversight alone cannot ensure best practices of governance in
organizations which manage huge resources including public funds. And
diminishing public trust in professionals is a matter for worry not only for
the government or regulators, but for the common man and the taxpayer. In the
given case, even the possibility of lateral movement of individuals from one CA
firm to another can reduce the impact of forced ‘rest’ periods. It is difficult
to build trust and honest behavior through statutes or directions.
In this context,
the only option left is strict self-regulation by professional bodies. The
institute of CAs, RBI and banks should expose unethical approaches by
individual CA firms and their employees and where proved guilty the
firms/individuals should be punished. If there are legal hurdles, GOI need to
come to help them out.
M G Warrier, Mumbai
Waste of resources
This has reference to a photograph of Kerala Chief Minister
Pinarayi Vijayan surrounded by several photographers which appeared on the
front page of some mainstream newspapers today (August 1).
The occasion was CM coming out from a meeting of leaders of BJP
and CPI(M) held to initiate peace moves following violence including murders
allegedly as part of inter-party rivalries. This letter is not about the main
issue of politically motivated violence in Kerala.
This is about lazy media persons spending precious
resources including time, out of proportion, to cover just one event in the
state capital. Why not various media houses pool resources and cover more
events and share notes and pictures/videos? Such an effort will release
resources including personnel, equipment and vehicles which can be deployed for
covering more news including developmental news across city, urban and rural
areas.
M G Warrier
IV
Leisure
Dear
Sir/Dear Madam
"Dear Sir",
"Please refer to", "We shall be glad" and "Yours
faithfully" were the permanent fixtures in draft letters I used to write
in RBI. In one of the papers I signed on the first day in RBI I signed under
the words "Yours obediently". Soon after, I overheard my
Sub-Accountant telling his T-Partner (Sharing of "Officer's Tea" with
a partner of his/her choice was customary those days) that what he expected
from 'his' staff was 'implicit obedience, subject to natural justice'. Having
come from a militant trade union background of AG's office those days, whatever
was left of obedience and discipline in me evaporated when I came to know of my
boss's mind.
Coming back to the subject.
Madams whom I address know that they are all dear to me. And Sirs, with the
exception of few, are aware that Dear and Sir have meanings depending on
contexts! just like "Dear Sir" in RBI's official letters.
The Post master at
Sastamangalam Post Office is a lady. when I address a letter to her about
change of address, i start with "Dear Sir/Madam"
In the Exrbites Group, I
quite often respond to mails with deep insight which I receive from Vathsala
Madam. Luckily for me "Dear" is already there in her name and I just
address Vathsala Madam!
M G Warrier
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