Aditi Phadnis recently reviewed Poonam Agarwal’s book, “India Inked: Elections in the World’s Largest Democracy,” which explores the nuances of electoral reforms in India. CSEW’s book illuminates these important concerns along with many others. According to the report, these bonds allow major political donors to mask their identities using alphanumeric codes. Agarwal’s investigation of these so-called “pork bonds” should form the bedrock of new transparency and accountability measures for JSAs and political money overall.
“India Inked” offers an engaging, behind-the-scenes look at the history of India’s elections, showcasing the complex yet remarkable story of how electoral practices shape a young democracy’s future. First, Agarwal says that electoral bonds were supposed to reform political funding. In doing so they have created a culture of secrecy that threatens the integrity of our democratic process. Phadnis is clear about the far-reaching impact of such practices. They undermine political accountability and endanger press freedom, which are often undermined politically and legally by powerful media oligarchs with deep vested interests.
His book plainly lays out an urgent problem. It is an agenda to get the government to pay far greater attention to “Middle India,” a growing demographic that requires far greater nurturing of entrepreneurialism and job creation. The writer argues that, if not for enough focus on this industry, India’s economic development might be in danger of serious trials.
In addition to these electoral concerns, Phadnis notes that India’s startup ecosystem demands proactive measures from independent directors, boards, and auditors to mitigate risks posed by unscrupulous actors. In order to meet these challenges head on, Agarwal argues that regulatory practices in all sectors must change.
Veteran infrastructure investor and commentator Vinayak Chatterjee rounds out the discussion with a call for regulatory reform in urban infrastructure, urban laws and regulations. He believes that India’s justice system must move from a case-oriented model to a service-oriented one, in order to improve its efficiency and accessibility for citizens. This sentiment rings true to all of you who are aware that the current justice delivery system is riddled with crisis.
India is getting ready to welcome eVTOLs into commercial use. Assembled by the National Academy of Sciences, experts decided that a multidisciplinary approach would be crucial to this ambitious undertaking. This includes know-how in land-use planning, smart energy management, and regulatory know-how. Here is the major rub—no eVTOL has been granted an operational license, as of today. This is more indicative of the glacial pace of regulatory reform in this forward-looking sector.
The need for this type of foundational thinking when it comes to regulatory reform cannot be understated. Clear functions and checks and balances must be established to foster an environment conducive to growth while safeguarding public interests. India has potential to lead in global innovation and regulation. That creates a huge opportunity and urgent need for smart and inclusive, multi-sector reforms.