Mr. Vaghul, our first Chairperson, passed away on Saturday. I write this note to express my deep gratitude to him, and to celebrate his life. And what a life he lived!
|
Mr. Vaghul and I at his residence |
Our past and present Chairpersons, |
Industry stalwarts have spoken about his contributions to the financial sector, his mentorship of people and institutions across finance, industry and non-profits. I don’t want to repeat that (though I was a beneficiary as a young professional starting my career at ICICI Securities). I want to note here some of the ways he helped shape PRS.
Mr Vaghul was our first chairman, from 2012 to 2018. When he joined the board, we were in deep financial crisis. Our FCRA application had been turned down (I still don’t know the reason), and we were trying to survive on monthly fund raise. Mr Vaghul advised us to raise funds from domestic philanthropists. “PRS works to make Indian democracy more effective. We should not rely on foreigners to do this.”. He was sure that Indian philanthropists would fund us. “We’ll try our best. But if it doesn’t work, we may shut down. Are you okay with that?” Of course, with him calling up people, we survived the crisis.
He also suggested that we should have an independent board without any representation from funders. The output should be completely independent of funders’ interest given that we were working in the policy space. We have stuck to this advice.
Even when he was 80, he could read faster than anyone and remember everything. I once said something in a board meeting which had been written in the note sent earlier. “We have all read the note. Let us discuss the implications.” And he could think three steps ahead of everyone else.
He had a light touch as a chairman. When I asked for management advice, he would ask me to solve the problem on my own. He saw his role as guiding the larger strategy, help raise funds and ensure that the organisation had a strong value system. Indeed, he was the original Karmayogi – I have an email from him which says, “Continue with the good work. We should neither be euphoric with appreciation or distracted by criticism.” And another, "Those who adhere to the truth need not be afraid of the consequences".
The best part about board meetings was the chat afterwards. He would have us in splits with stories from his experience. Some of these are in his memoirs, but we heard a few juicier ones too!
Even after he retired from our Board, he was always available to meet. I just needed to message him whenever I was in Madras, and he would ask me to come home. And Mrs. Vaghul was a welcoming host. Filter coffee, great advice, juicy stories, what more could one ask for?
Goodbye Mr. Vaghul. Your life lives on through the institutions you nurtured. And hope that we live up to your standards.
Madhavan
The term of the 12th Haryana Legislative Assembly ends in October this year. We look at the work done by the 12th Haryana Assembly during its term from 2009 to 2014 to assess its performance on metrics such as the number of sittings, members’ attendance, and legislative business. Performance of the Assembly Since the beginning of its tenure, which commenced in October 2009, the Assembly has held ten sessions. Till March 2014, the Assembly had met for a total of 54 days – an average of 11 days per year. In comparison, the Lok Sabha sat for an average of 69 days each year from 2009 to 2014. Among state assemblies, only Nagaland and Arunachal Pradesh sat for fewer days than Haryana. In the same period the Kerala Assembly sat for an average of 50 days per year , while Tamil Nadu Assembly sat for 44 days. 
The average attendance among Haryana MLAs stood at 89% for the whole term, with six members registering 100% attendance.
From the beginning of its term in 2009 till March 2014, the Assembly passed 129 Bills. All Bills were discussed and passed on the same day as they were introduced. None of the Bills were referred to any Committee. Participation in the general discussion on the Budget has recovered since 2012, when the Budget was discussed for around three hours with eight Members participating.. In 2013, discussion took place for eight hours and forty minutes with 31 members participating. In 2014, the Assembly discussed the Budget for four hours and fifty minutes with 21 Members participating.
Key laws passed by the 12th Assembly include the Haryana State Commission for Women Bill, the Haryana Prohibition of Ragging in Educational Institution Bill and the Punjab Agricultural Produces Markets (Haryana Amendment) Bill.
