India must find a way to restore confidence in its governance
As the dust settles on a display of people power led by anti-corruption activist Anna Hazare, the question to be asked is: will the elected representatives of the people have the courage to usher in change that alters the status quo?
The recent rejection by the union cabinet of a Sports Bill does not inspire confidence. The bill aimed to clean up the management of sport, which, as India Business Law Journal reported in September 2010, is dominated by politicians who double as sports administrators. However, reports that the sports minster is stepping up his efforts to bring transparency and accountability to sports bodies indicates that some politicians have read the writing on the wall.
Similar signs of encouragement are evident at the Ministry of Corporate Affairs. In an exclusive interview with India Business Law Journal, M Veerappa Moily, the country’s new corporate affairs minister, says his “ministry will be just like a mother to the corporate world – impartial, objective and caring” (Reflecting on a mutiny, page 23). Add to this Moily’s determination to introduce a new Companies Act, which he says is his “first priority”, and there may be grounds for optimism.
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