This Book is a compilation of select articles authored by M R Venkatesh, mostly in Rediff.com. To the reader, his writings offer a ring side view of the debilitating state of affairs in India under the leadership of Dr. Manmohan Singh. With a persuasive, passionate and powerful style of writing the author demystifies the challenges confronting India and Indian economy in a manner that is comprehensible to even the layman.
M. R. Venkatesh is a colleague of mine in the struggle against corruption in Indian economy and society. We are together in the Action Committee Against Corruption in India. Venkatesh may be a chartered accounted but he has already made a name through his writings as a scholar of the financial system. While we may wax eloquent on various economic growth theories, the bottom line is that if a nation does not have a sustainable financial system then its growth will not last.
In a way this book has already been read twice over – first, when these articles were published and second time when you read the title to this book. That begs a question – why then this book? Thoroughly disturbed by the seemingly irreversible downward spiral in the affairs of the country, I had been attempting to faithfully capture them in my weekly columns in Rediff.com, without any personal bias. As I looked back on the collective thrust of my articles spread over between 2011 and 2013 the leitmotif in my writings – the gargantuan failure of the Manmohan Singh Administration –- was clearly visible even to me, probably for the first time.
Nothing changed in India on 15 August 1947 except for the flag and the anthem. The Reserve Bank of India, in particular, followed the example of the police and general administration in regarding the people of India as idiots needing heavy-handed "parental Guidance". Jawaharlal Nehru refused to do away with any of the features of colonial rule, with consequences that are particularly obvious and odious today. As for national finance, both the RBI as well as the Finance Ministry are to this day in thrall to those seeking to bend circumstances and policies in India in a way favourable not to the "idiot" people of India but institutions and agencies in the "civilized" world i.e. the former colonial powers. M R Venkatesh has ripped away the façade of national purpose, and shown the colonial tint in policy and practice. A must read for those who acknowledge that the people of India are as adult as any elsewhere"
Professor M D Nalapat
UNESCO Peace Chair
M.R. Venkatesh is one of India’s leading Chartered Accountant who addresses the Business concerns relating to Commercial and Economic laws, Economic Policies and Business strategies. He passed Chartered Accountancy in 1992 with an all India Ranking and has been in active practice since 1993 as partner of GSV Associates, Chennai.