Posted on January 26, 2011. Filed under: POLITICS | Tags: , , , , , , |

In 2007, the Prime Minister, Manmohan Singh addressed the leaders of Indian industry on the occasion of the Annual Session of the CII (Confederation of Indian Industry).

The speech of the PM caused quite a bit of stir then as it talked about many things that the Indian industry would need to do in order to build a more just and humane society.

One of the key points was in relation to the ‘soaring CEO compensations’. This led to a lengthy debate and the government had to clarify about having no intentions of taking any measures to curb the compensations.

It is true that in most of the cases, the remunerations received by the personnel at the top of the management ladder have touched stratospheric levels. There is one view that in an economy as inequitable as India is such compensations fuel conspicuous consumption and hence could be a trigger for a possible social unrest coming from the side of the most deprived of the population. At the same time, are these compensations not for the deserving? The people who are accused of taking home large remunerations have the right to enjoy their fruits of labour.

Now a few days a group consisting of some very famous names including one Mr.Azim Premji wrote an ‘open letter’ to the PM expressing their concern over things like ‘corruption’ and the ‘governance deficit’. Asked for further comments, Mr.Premji called the lack of governance a natural calamity.

The PM should answer the questions raised by the likes of Mr.Premji. If the ‘soaring compensations’ taken by the CEOs are a matter of national concern, then what about the thousands of crores looted by the politicians? The PM is a witness to the brazen misuse of power by those in power yet he remains indifferent while not being hesitant to sermonize. Some of his cabinet colleagues question the methodology used in the estimation of the loot.

If the CEO of a corporation does not deserve his compensation, then what or who gives the right to the politician to loot the country is something that the PM has to answer. The PM is the CEO of the country and so he has to take the lead and responsibility in doing the right thing. It is beyond the thinking of any reasonable person as to how this present UPA dispensation can do anything good for the common man or the AAM AADMI!

It is time that the shoe is on the other foot, PM and it surely pinches.


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I believe the root of the corruption is the giver, if the industrialist seeking license or sanctions refrain from giving, there is no question of takers. If INDIA continues to have a status in the world economy it is because of such leaders. Coalition politics and compulsion of governance has definitely made the PM sobre. I believe to be at the helm of affairs is full of risk of loosing one’s reputation. I agree with you that CEO s or Chairmans compensation should be world class, and it has to be taxed correspondingly, there is nothing wrong in it. Probably at the time of global meltdown it was a speech expected from the electorate, nothing more to it. I am sure you will endorse my view.


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