Corruption is a part and parcel of our system

Corruption. It is a word as old as India itself. In every walk of life we face some form of corruption or the other. Be it in bribing an official to get our work done faster. Or in agreeing to pay a taxi fare that is different from the meter. Corruption is everywhere. The recent spate of scams has just been a stark reminder of how big the problem really is. As a result the anti-corruption brigade started by Anna Hazare and carried on by his supporters appears to be the right step to take. After all someone needs to raise their voice and get things cleaned up in India. But there is one man who does not appear to agree with this anti-graft crusade. The gentleman is none other than head of HDFC Mr Deepak Parekh.

Mr Parekh has stated that corruption cannot be eradicated from our system. He also expressed his disapproval of both Mr Kejriwal as well as the media for giving undue coverage of his exposes. He feels that the former is just playing a 'name and blame game' while the media has blown this way out of proportion. Mr Parekh feels that such blame games would create an environment of distrust in the country. This could lead to a hung parliament in the 2014 elections. The subsequent result of this would be a 'messy' coalition which would harm the country's long term interests. Mr Parekh has been vocal about the how the policy paralysis has hurt the country. But he has also been known for saying the Prime Minister Dr Manmohan Singh is a blessing for this country.

While we do agree with Mr Parekh that the anti-graft brigade is just becoming a blame game. However, we do not agree with him that corruption should be left as it is just because it is a part of our system. Even Mahatma Gandhi had said 'Corruption ought not to be an inevitable product of democracy.' There is a cost attached to it and this has caused damage to the country. The scams and corruption scandals have taken a toll on the investor confidence both domestic and foreign. Without investment the country's long term growth would remain in danger. But unless something is done to gain back the trust of the investors, investment growth would continue to get hit. Simply saying that our system is this way is not good enough. Perpetrators have to be punished. The system has to be strengthened and loopholes need to be closed. That is the only way in which the country's future can be made secure.

Unfortunately, the quality of Indian polity seems to be deteriorating day by day. It is time for citizens to wake up and take a stance against this. If you feel this way too, then help create a 'snowball' effect to save India's democracy and growth story. Make your voice heard. Participate in our petition to the government.

The above is from the mail I receive from Equitymaster

Mr. Parekh may have been head of HDFC and holds very important position now but his verdict is tainted by his own interest.

He is part of the system and so how could you expect any views which criticize the system.

Being connected with the government, naturally he will propagate the government view.

Parekh has been a member of various Committees set up by the Government of India.

He was appointed Chairman of the high level expert committee formed to recommend measures for strengthening the Unit Scheme in 1964.

The Reserve Bank of India appointed him Chairman of the Advisory Group for Securities Market Regulation, which was tasked to compare the level of adherence to international standards in India with that in other countries.

He was also Chairman of the Expert Committee constituted by the Ministry of Power to look into the reform efforts in the power sector.

He thinks Manmohan Singh is an honest man.

I too used to think the same but the way he is protecting the corrupt makes me doubt his integrity.

Arvind is Kejriwal is doing the right thing in keeping the corruption issue centre-stage.

If the politicians and the industrialist who have gained maximum from this system feel uncomfortable, let them come forward to change the system to root our corruption.

Unfortunately their interest lies in continuing the system. Hence, although they give back-handed compliments to Anna Hazare and Arvind Kejriwal on doing good work, they would like him to allow the government to continue the cronyism.

Sorry, Mr. Parekh, we do not think you are neutral to give your verdict.