A wave of cynicism is sweeping middle class India about what has come to be seen as "governance deficit" with a series of skeletons tumbling out of governmental closets with uncanny regularity.That even a highly respected and hallowed institution like the Indian Space Research Organisation can get embroiled in a scam has only added to the mood of cynicism and despair.
It is against this background that the opposition political parties are targeting a prime minister who is arguably the cleanest PM India has ever had.
The Opposition may not be off the mark in alleging that despite the prime minister's impeccable personal integrity, he presides over a government of increasingly questionable integrity.
That serious corruption charges have been levelled even against state governments in the charge of various other political parties has further added to an air of all pervasive cynicism.
It is not just the executive and the legislature that have exposed themselves to serious charges of corruption and wrongdoing, but even the judiciary and the so-called "fourth estate" have come under increasing scrutiny.
Rather than bemoan the sweeping cynicism of the middle class, and beat one's breast about the world's biggest democracy becoming a "banana republic", the time has come for a comprehensive clean-up of institutions and procedures.
It is, therefore, just as well that a cleaning up process has begun.
Heads must roll, the culprits punished and greater transparency brought into the functioning of all institutions. Discrete and specific steps, as being taken up in the telecom sector, are as important as some major acts of institutional cleansing.
In this context, the proposal of the Election Commission to impose financial accountability on political parties is timely and welcome. As reported in this newspaper, the EC has accepted a report prepared by the Institute of Chartered Accountants of India recommending transparency in financial accounting.
A swath of proposals has been made ranging from the need for accrual-based accounting to a common format for financial statements by political parties made on an yearly basis, with a common and fixed accounting year, and the auditing of accounts by chartered accountants who are rotated every three years.
Just as the office of the comptroller and auditor general of India has pursued cases of financial impropriety without fear or favour, the Election Commission of India too must push for political funding reform.
The ICAI is right to demand that political parties conform to its accounting standards.
The ISRO case has also drawn attention to the need for greater transparency in the operations of India's defence, space and nuclear sector. State-owned enterprises in these sectors have functioned behind a veil of non-transparency on grounds of national security.
Be it large and powerful private sector firms, or SOEs, or media organisations, or political parties or institutions of national security and national importance, no one should claim exemption from public scrutiny of finances.
The essence of democratic governance is public scrutiny of finances.
If greater financial transparency comes out of the current public washing of dirty linen that in itself would be a good thing.
The EC is making good use of the extant public mood. Other regulators and law-keepers must follow the example.
