.....Subir Gokarn, the high profile economist who was handpicked by RBI Governor in 2009 to steer the country's monetary policy in an uncertain times, completed his three-year term on November 23. There were two certain options before the government. One, extending his tenure as he is eligible for extension, Two, terminating his service and appoint a new person. But the ministry choose the middle path. Neither did it terminate Gokarn's contract nor gave him an extension. The government decided for an interim extension, till December 31, just to add more speculation to one of the most crucial appointments of financial market regulation. Because Gokarn's re-appointment is not ruled out, technically, say the bureaucrats of Raisina Hill, where the finance ministry is housed, he can appear for the interview which will be conducted by the recently appointed search panel headed by Subbarao. Subbarao did the best he could do to avoid uncertainty regarding this crucial appointment as he strongly recommended Gokarn's extension around four months before November 23. This is neither the first time nor the last time that due to indecision of the government uncertainties over key appointments linger........
1 comment:
When will we learn to do things like implementing succession plans for top government/public sector jobs with professionalism and efficiency in a graceful manner?
We all talk highly about the virtues of private sector, but do we really allow public sector imbibe its good features? This is a rarity. How else can one explain the difference in the selection procedures of successors for Ratan Tata and N R Narayana Murthy and those for finding CEOs and top managers of public sector organizations?
Another point is that it will be next to impossible to attract talent to these government positions, given the meager remuneration offered. It is time to revise this factoring in market realities. The present practice has resulted in compromises on quality and the nation can ill-afford this state of affairs.
It suits an unstable government to have ‘yours obediently’ people who have no other place to go or those who find the postings as a stepping stone for career opportunities abroad, at the top of institutions which of late are not dancing to its tunes. Not much research is needed to know why it tries to ease out people like Dr Subbarao, Gokarn and Vinod Rai.
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