MAINS DAILY QUESTIONS & MODEL ANSWERS
Q1. In the context of corporate governance in India, what do you mean by “moral integrity” and “professional efficiency”? Provide appropriate examples.
GS IV – Ethics-related issues
Introduction:
- In order to prevent corporate greed and guarantee that enterprises are run responsibly and transparently, corporate governance refers to the set of policies, procedures, and practices that guide and manage a firm.
Body:
- “Moral integrity” and “professional efficiency” are two fundamental concepts in Indian corporate governance that direct moral behaviour and conscientious management in businesses.
- When it comes to corporate governance, moral integrity is the adherence to strong ethical ideals and principles in business processes. It entails acting in a responsible, honest, transparent, and fair manner and going above and beyond the call of duty to uphold moral standards as well as legal requirements.
- An example of moral integrity is when a business discloses its financial results truthfully, even if it means admitting a drop in earnings or facing financial difficulties.
- Professional Efficiency: In the context of corporate governance, professional efficiency refers to the efficient and accountable administration of a business’s assets and activities.
- Process optimisation, risk management, and decision-making that balances the interests of all stakeholders with the goal of maximising value for shareholders are all part of it.
- As an illustration, using the newest technology and digital tools can greatly increase professional effectiveness.
Way Forward:
- Businesses that exhibit moral rectitude and competent management are more likely to retain their good name, draw in outside capital, and further India’s general social and economic advancement.
Q2. International aid is a recognised means of assisting “resource-challenged” countries. Discuss “ethics in contemporary international aid” and provide relevant examples to back up your position.
GS II – International issues
Introduction:
- Helping countries with limited resources is made possible by international aid, which offers crucial resources, knowledge, and assistance that can result in better living circumstances, long-term sustainability, and economic growth.
Body:
- Modern international help must take ethics into account in order to be efficient, considerate, and long-lasting.
Honouring the Autonomy of the Recipient Nations:
- For instance, the UNDP collaborates with states to help them design their own development programmes that uphold national sovereignty.
Openness and Responsibility:
- For instance, charitable groups such as Oxfam consistently release comprehensive reports on the sources of their money, their expenses, and the results of their projects.
Preventing Injury and Reliance:
- For instance, microfinance initiatives, like Bangladesh’s Grameen Bank, offer small loans to people in order to help them launch their own enterprises.
Extended Durability:
- Projects aimed at mitigating and adapting to climate change are supported by the Green Climate Fund.
Humanitarian Values:
- For instance, Doctors Without Borders works in war areas across the globe.
- But there aren’t many difficulties with modern international aid:
Arming Investment Assistance:
- As an illustration, China has been using foreign investments as weapons as part of its “debt-trap diplomacy.”
Mismanagement and Corruption:
- Example: The economic crisis in Sri Lanka was caused by corruption and poor handling of foreign aid.
Way Forward:
- Therefore, moral foreign aid practices protect the rights, autonomy, and dignity of the recipients as well as the effectiveness of the aid.
