16th TAPMI Silver Jubilee Leadership Lecture 2014 Shri Vinod Rai, IAS., (Retd.) Former Comptroller and Auditor General of India Delivered Lecture on Importance of Good Governance for sustained Economic Development on March 08, 2014 at Syndicate Bank Golden Jubilee Auditorium, Manipal

T. A. Pai Management Institute, Manipal hosted tits 16th Leadership Lecture on Saturday at the Syndicate Bank Golden Jubilee Auditorium. The speaker for the event was Shri Vinod Rai, Former Comptroller and Auditor General of India. The event started with the lighting of the lamp ceremony by Dr Ramdas Pai, Chancellor – Manipal University, Shri Vinod Rai and Dr R C Natarajan, Director – TAPMI, Manipal, who also welcomed the gathering.

Prof Vinod Madhavan, the Master of Ceremony for the event, began by providing a brief introduction about the speaker and then invited him to deliver the lecture. The topic of the lecture was Importance of Good Governance for Sustained Economic Development. Shri Rai started with a brief account of the reforms journey of Indian Economy to the present day and cited the strengths as it has been able to register substantial growth even in the face of global recession.

He spoke about events of national importance that have shaped the country the way it is now. However, Shri Rai was very consistent and bullish on one point and that was the role of GenNext and the future of this country. He emphasized on the point that good governance is not only to be practised by the body in power but also by the corporate, the citizens and anyone who is a part of this country. The reason he cited was that it is we who pay the taxes and therefore it is us who should stay vigilant to the activities undertaken by the Government. He clearly stated that the government has an objective to function “by the people, for the people and of the people” and if it does not stick to this objective, then it is our duty and fundamental right to change such a government.

Shri Rai then spoke about the various resources that are the exposure of the corporate and industries for bringing about development in the country. He pointed out that these resources are all limited and have to be used responsibly with no exploitation anywhere. He touched upon points like innovation and the need to excel. He said that Indians have become more and more content with mediocrity and there is a pressing need to excel in whatever tasks we undertake be it in governance, economics or sports. He also laid special impetus on Ethical Management and Leadership as the cornerstone for any successful business enterprise.

The lecture was followed by questions from the audience where faculty and students of TAPMI asked the speaker on the investment scenario in India and the role regulatory bodies play in the development of the nation. There were also questions related to the current political scenario which is a precursor to the general elections in 2014. All these questions were aptly answered by the guest. He also appreciated the students and faculty for asking the right and relevant questions, as in today’s times it is of paramount importance.

The event ended with Prof Madhavan, proposing the vote of thanks to the invitees of the event and the Manipal fraternity at large.