Aditi Phadnis provides an insightful review of Poonam Agarwal’s book, “India Inked: Elections in the World’s Largest Democracy,” published in Business Standard. Read on as Karthik takes us through how India’s electoral system has changed over the decades. It’s an incredibly useful deep dive into the many different ways democracy is being eroded – including the widely criticized electoral bonds scheme.
Agarwal’s investigation finds a counterintuitive result. Though electoral bonds were meant to bring transparency into political funding, their elaborate alphanumeric codes have only served to cloak the process in secrecy. This unintended consequence runs directly counter to what these bonds were intended to accomplish in the first place. Phadnis highlights that Agarwal’s extensive coverage of this issue serves as a crucial reminder of the challenges that lie ahead for India’s democratic framework.
In her review, Phadnis emphasizes that effective regulatory reform must adhere to three fundamental principles: foundational thinking, a clear identification of functions, and the establishment of checks and balances. India’s regulatory environment is preparing to turn these guiding principles into reality. From that standpoint alone, it’s obvious that these principles will help create a more accountable governance structure.
The need for regulatory reform goes far beyond electoral timelines. Vinayak Chatterjee discusses the need for substantial changes in urban infrastructure laws and regulations, particularly concerning emerging technologies such as electric vertical takeoff and landing vehicles (eVTOLs). Chatterjee goes on to explain how eVTOLs can transform the way we get around cities. Not a single operational license has been issued for them so far. He stresses the importance of a multidisciplinary approach that encompasses urban planning, energy management, vertiport construction, and regulatory expertise to ensure their successful integration into society.
Phadnis wants to stress the importance of corporate governance, which he calls core to his message. He calls on independent directors, boards, and auditors to act decisively when they see wrongdoing, especially in the case of startups. This vigilance is especially important in ensuring that these innovative practices do not compromise ethical standards or stakeholder interests.
Agarwal takes on a growing threat to press freedom across India. She contends that the objectivity of journalism is threatened by the divided agendas of media proprietors. This aspect of her analysis underscores the broader challenges faced by democratic institutions in maintaining their integrity amid external pressures.
Agarwal is adamant that India now needs to face its colonial history of repression and control. Until these concerns are tackled, the nation will continue to find it impossible to create a justice system worthy of its people. This claim resounds with the theme of systemic change so often echoed in our current national discourse. It underlines the need for deep introspection as India embarks on its second century of democracy.