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14th All India Elocution Compitetion
14th All India Elocution Compitetion
Neha Baxi
Registration No. : 450006059/02/2013
TOPIC:
Whether
- Reducing regulations for 'easing of doing business in India'
and
- Increasing regulations for 'enhancing corporate governance'
are contradictory or
complimentary?
is
positive
move
forward.
De-licensing,
de-
of
Corporate
Governance.
Like
any
other
major
of capital but money and power are two very notoriously tricky
concepts. Unfortunately, not everyone inherits and implements
the beauty of inclusive growth. Resulting, in a strict Corporate
Governance framework. These regulations enable functioning of a
smooth corporate system. Although loop holes are inevitable and
mistakes do creep in, do you think if stringent rules prevailed in
the past, Mr Raju would have succeeded in pulling off the
SATYAM scam? Do you think people like Mr. Harshad Mehta and
the then chairman of UTI, Mr P.S. Subramanyam would have
succeeded in siphoning off huge sums of money from millions of
investors? Do you think COALgate, and a scam as recent as
VYAPAM would have occurred if proper vigilance was kept at that
time?!?
Regulation being the link between the level of ease of business
and level of corporate governance, from a birds eye view it gives
evidence that topic provided is mutually exclusive. But look
closer, observe harder, study in depth and you realise that by
increasing the regulations you are ultimately reducing them in
the long run by way of lesser legal complications, compliances
and punishments.
Friends, this universe is all about maintenance of balance.
Nature too takes it own course for maintenance of the same. For
example, it introduced carnivores to the food chain and provided
humans with two legs to keep them balanced. Thus mankinds
any law cannot deviate far from this founding principle of
existence itself. When discussed in financial scenario no economy
or commerce shall be governed in a manner where the rich are
provided for at the cost of the poor.
Similarly, for balancing the economy, increase and decrease in
regulations are practically two sides of the same coin. While
being liberal at certain point is necessary for speedy growth,
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