If there is ONE regressive belief that is
perpetuated by every government of India and has generally taken the
country backward,
it is: if something goes wrong, the answer lies in
government control; because if government controls something, it will
deliver optimum results.Such an approach to situations results in:
a. stranglehold of
babudom1;b. distancing citizens’ from liberty;
c. annihilation of self-governing and self-financing institutions into monolithic government bodies;
d. developing a false narrative that government delivers and delivers for larger good;
e. cost overruns, inefficiencies, unaccountable ways generally known by the name ‘public service’ amongst others.
Lacking Government oversight:
Look at the last two big scams – where CAs were blamed, but no
significant government employee responsible for oversight faced any
consequences! Did you see any action on SEBI for the co-location scam?
Did you see action on Reserve Bank of India after the collapse of
systemically important NBFC IL&FS right under its nose called
‘supervision’?
One can infer that when regulators fail and/or go unpunished, insiders above them were pulling the strings!Connect the Dots: Two issues have been debated this week – changes in 3 Institutes and the formation of IIA.
Let’s
look at the past sequence of e
