A little ray of hope in the political quagmire that is India. This from today’s Financial Express:

Prime Minister Manmohan Singh has warned his ministers against treating public sector undertakings (PSUs) as their “fiefdom”. In a letter to his cabinet colleagues, Dr Singh has said that they cannot afford to ignore good corporate governance and conduct. The PM has asked them to correct the perception that PSUs are “profligate”, according to an official release.

Mr.Singh sent a letter to his colleagues that said:

“….proper and efficient functioning of the public sector enterprises is critical to fulfilment of many commitments of the National Common Minimum Programme which aims at the overall growth of economy” and “…there have been disquieting reports about some of the PSUs ignoring the ground rules of good corporate governance and conduct”

He further admonishes the ministers (very nicely) by saying

Ministers in charge of PSUs are custodians of the resources of the country and it is their bounden duty to lead them by their example of efficiency, rectitude and austerity

Finally, a PM who articulates what most of us feel about the state of the PSU’s and the conduct of ministers. I don’t think that he minds losing a popularity contest amongst his cabinet collegues. And that probably makes him a person who will put our interests before those of his ministers. I hope that he lasts the full term.