Corporate sector too has social responsibility: Venkatachaliah
Attributing rampant corruption, inefficiency and misuse of valuable human resources for the present state of affairs in the country, the former Chief Justice M.N. Venkatachaliah on Saturday underlined the need for the “rulers” elected representatives] to make their best attempts to address the issue.
Releasing A Life and Its Lessons by noted scholar and social activist Samuel Paul, he regretted that people were losing their faith in their “rulers” and the system had almost become ungovernable.
“The rulers should understand the situation before it is too late and work towards instilling the faith that has been lost in the system,” he said.
If the mess already being created because of bad governance was not addressed on a priority basis, society would be in great trouble, he said. “Though the country has made its presence felt in the fields of science, technology and the domestic market, it was lagging behind in over all competition,” he said.
The issue could be addressed only through human resources equipped with scientific and technological back-up. “This could be achieved only through establishing institutions of high standard,” he said.
Underscoring the need to find new ways of thinking to change the system, which according to him, is in a mess, Mr. Venkatachaliah said the corporate sector had a social responsibility in the days of a global economy.
Besides earmarking at least 5 per cent of their total earnings to social causes, their R&D wing should help the government address issues, he noted.
Born of experience
He added that in his memoirs, Dr. Paul had distilled the lessons of experience learnt from a wide range of institutions both national and international. He had also dealt with the great social challenges of the time.
“This autobiography is a statement of a scholar and patriot, who in his deepest thoughts, has been passionately concerned with the well-being and progress of his fellowmen,” Mr. Venkatachaliah said.