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Twenty-five year Wall Street veteran PowerPoint Presentation
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Twenty-five year Wall Street veteran

Twenty-five year Wall Street veteran

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Twenty-five year Wall Street veteran

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  2. Rao Chalasani– President, Chicago • Twenty-five year Wall Street veteran • Chief Investment Strategist of Wachovia Securities (formerly First Union Securities) • Recognized twice by the Wall Street Journal as best asset allocator among the top 13 U.S. financial service firms • Regular appearances on CNBC, CNN-FN television, quoted extensively • Charter Member – The Indus Entrepreneurs (TiE), Midwest • Founder, TANA Foundation, a philanthropic organization that disburses over $1MM annually • Chaired two business conferences of TANA • Chicago, 1995 • Cincinnati, 2001 • Education • MS, Chemical Engineering, University of Akron • MS, Polymer Science, University of Akron WWW.FDRI.ORG

  3. Naren Bakshi– Director, Silicon Valley • Founder Versata and CEO JumpStart • Education • BS, BIT, Ranchi • MS & MBA, University of California, Berkeley • India experience – Hindustan Motors, NEI • Resides in the United States since 1966 • Standard Oil • TRW • Ameritrust Bank • Versata, etc. • Charter Member, The Indus Entrepreneurs (TiE), Silicon Valley • Desire to give back • Committed 3 months per year in India since 2000 • Champion of TiE, Jaipur • Board of Directors – ICC, Hume Center WWW.FDRI.ORG

  4. “Democracy, disciplined and enlightened, is the finest thing in the world.” - Mahatma Gandhi WWW.FDRI.ORG

  5. An Empowerment Movement • Root causes vs. symptoms • Holistic vs. piecemeal solutions • Inclusion of all stakeholders • National in scope and scale • Collective assertion WWW.FDRI.ORG

  6. Challenging but Within Reach • Difficult but achievable • It fits into the Indian psyche • Marathon – not a sprint • Needs determination and confidence • Collective assertion WWW.FDRI.ORG

  7. Governance Reforms – A fulfillment of India’s freedom struggle • Governance reforms is an empowerment movement • Healthcare, education etc. will all be positively impacted • The success of this movement ensures multi-fold returns for other causes WWW.FDRI.ORG

  8. USA Oldest democracy Secular state Good opportunities Systems mostly in place Governance facilitatinggrowth Individuals can excel easily India Largest democracy Secular state Excellent opportunities Systems still developing Governance hinderinggrowth Individuals have to struggle to excel Why Governance Reforms? WWW.FDRI.ORG

  9. The Scale of the Problem • Union and state governments combined spend Rs. 1,800 crores daily WWW.FDRI.ORG

  10. Problems in Perspective - Is this a system lacking funds or a conscience? • Primary School Education • 1.6 million classrooms needed • Capital cost : Rs.16,000 crores – 9 days government expenditure • Recurring expenditure : Rs.8,000 crores – 5 days government expenditure • Sanitation • 140 million toilets needed • Cost: Rs 35,000 crores • Equals just 20 days expenditure WWW.FDRI.ORG

  11. FDRI’s Approach • In India: work with mature, registered, non-profit organizations working towards Governance Reforms • In US: work primarily with NRI institutions to promote awareness of Governance Reforms in India. WWW.FDRI.ORG

  12. Foundation for Democratic Reforms (FDR) and Lok Satta – a dual top-down, bottom-up approach (FDR) – Leading think tank that provides strategic direction Lok Satta – A grass roots people power movement that works to implement FDR’s vision WWW.FDRI.ORG

  13. The relationship between FDRI, FDR, Lok Satta and affiliate organizations Other Sources Funds, research Funds, research FDR FDRI Funds, research NRI Institutions Lok Satta NRI Institutions Funds & in-kind support NRI Institutions Affiliate organizations WWW.FDRI.ORG

  14. Putting the Pieces Together – Lok Satta partner organizations in India and abroad • National Council for Electoral Reform (NCER) • People’s Union for Civil Liberties (PUCL), New Delhi • Association for Democratic Reforms (ADR), Ahmedabad • Association of Local Governments in India (AGLI) • AGNI, Mumbai • Federation for Empowerment of Local Governments (FELG) • CERC, Ahmedabad • Association of Voluntary Agencies for Rural Development (AVARD) • Mazdoor Kisan Shakti Sangathan (MKSS), Rajasthan • Public Affairs Center, Bangalore • Sri Anna Hazare and colleagues, Maharashtra • Cooperative Development Foundation (CDF) • Parivartan, New Delhi • Foundation for Democratic Reform in India (FDRI) WWW.FDRI.ORG

  15. The Five Pillars of Good Governance • Comprehensive electoral reforms • Empowerment of local governments • Instruments of accountability • Speedy and efficient justice • Best practices identification and implementation WWW.FDRI.ORG

  16. The Outcome • Disciplined and enlightened democracy in India • Empowerment of citizens to realize their full potential • A confident, prosperous India that is a global leader WWW.FDRI.ORG

  17. “Never doubt that a group of thoughtful, committed individuals can change the world… Indeed it is the only thing that ever did ” - Margaret Mead WWW.FDRI.ORG


  19. Lok Satta – Its founder and mission Dr. Jayaprakash Narayan – his life and mission WWW.FDRI.ORG

  20. Dr. Jayaprakash Narayan – Hyderabad • Founder, Foundation for Democratic Reforms • National Convenor, Lok Satta • Graduated from Guntur Medical College 1979 • Ranked 4th, Indian Administrative Service 1980 • District Collector, Prakasam and East Godavari Dts., AP • Secretary to Governor, Andhra Pradesh • Secretary to Chief Minister, Andhra Pradesh • Chairman, Industrial Infrastructure Corporation, AP • Resigned from IAS at age 40 to start the Lok Satta movement for governance reforms in India • A Physician by Training, A Beaureaucrat by Choice, and • A Democrat by Conviction WWW.FDRI.ORG


  22. Murali K. Prahalad – Director, San Diego • Director of Business Development, Sequenom, Inc. • Experience in IT and management consulting • Extensive involvement with the Network of Indian Professionals (NetIP) since 1997 • Spoken on the role of second generation NRIs and India’s development at the Confederation of Indian Industry’s Annual Summit in 2002 and 2003 • Co-authored a white paper on second generation Indian Americans and their relationship with India for the Prime Minister’s Commission on Non-Resident Indians and People of Indian Origin (2001) • Education • M.Sc. Honors, University of Michigan 1992 with majors in Cell and Molecular Biology, Japanese and Economics • Masters of Medical Science, Harvard University, 1995 • Doctorate in Biochemistry, Harvard University, 1998 WWW.FDRI.ORG


  24. FDRI / Lok Satta are About Hope and Action “ ... out of the past is built the future. Look back, therefore, as far as you can, drink deep of the eternal fountains that are behind, and after that, look forward, march forward....Our ancestors were great. We must first recall that. We must learn the elements of our being, the blood that courses in our veins; we must have faith in that blood, and what it did in the past - and out of that faith, and consciousness of past greatness, we must build an India yet greater than what she has been. There have been periods of decay and degradation. I do not attach much importance to them...such periods have been necessary. A mighty tree produces a beautiful ripe fruit. That fruit falls on the ground, it decays and rots, and out of that decay springs the root and the future tree, perhaps mightier than the first one...” - Swami Vivekananda WWW.FDRI.ORG

  25. The Lok Satta Approach • Identify high impact problems • Research and document root causes • Educate and train citizens • Develop focused and measurable action plans • Share successful, sustainable and scaleable solutions with like minded groups across India Surgical, results-oriented, direct WWW.FDRI.ORG

  26. How Lok Satta is Making a Difference The Five Pillars of Good Governance • Comprehensive electoral reforms • Empowerment of local governments • Instruments of accountability • Speedy and efficient justice • Best practices identification and implementation WWW.FDRI.ORG

  27. Comprehensive Electoral Reforms – the decriminalization of politics • Problem: Political parties fielding candidates with criminal records. Citizens are unaware of candidates’ criminal backgrounds. Solution: Citizens have a right to know if candidates have prior criminal histories. Enact legislation forcing parties to provide background information on candidates they field. Impact: - Lok Satta and coalition organizations challenge flawed bill concerning disclosure of candidates’ personal assets and criminal records - The Indian Supreme Court rules in favor of the coalition - Indian Election Commission issued guidelines in line with the Supreme Court directive - Voters can judge candidates on personal merit - SC directive to be enforced in December elections WWW.FDRI.ORG

  28. Comprehensive Electoral Reforms – Election Watch • Problem: Political parties field candidates with criminal records Solution: Establish citizens groups to research and publicize the background of candidates. Create a forum to collect and verify criminal records. Publicize the records with those who have criminal pasts. Impact: - 1999, Lok Satta identifies 45 Lok Sabha and AP assembly candidates with criminal records. Political parties get the message. - 2002 Hyderabad Corporation elections - 34 candidates - 12 drop out for fear of exposure - of remaining 22, 14 found with criminal records - of the 14, only 1 with criminal record is elected - Model taken to states that go to the polls in Dec. 2003 WWW.FDRI.ORG

  29. Comprehensive Electoral Reforms – campaign finance reform • Problem: Political parties’ illegal expenditure on campaigns is often 5-10 times the legal ceiling. Most of the money goes to buy votes and is a major source of corruption. Solution: Enact a bill for tighter scrutiny of election expenditure. Impact: - Lok Satta drafts bill for tighter campaign finance reform and gets bipartisan parliamentary support - Bill recently passed by Parliament largely unchanged - The Election Commission will implement the new law - The buying of votes and illegal fundraising curtailed WWW.FDRI.ORG

  30. Decentralization of Power – empowerment of local government • Problem: Excessive centralization starves local governments of funds and feeds an increasingly bloated bureaucracy Solution: - Genuine devolution of power - Transfer 50% of state tax revenues to local governments - Create local government cadre in civil service - Abolish unconstitutional bodies such as Urban Development Authorities (HUDA etc.) - District wise allotments in state budgets - Independent ombudsmen for errant local officials Impact: - Government petitioned; no positive response yet - Campaign for 10MM signatures completed - Massive public education in AP on the issue; 800K pamphlets, 300K signature sheets, 107K posters etc. WWW.FDRI.ORG

  31. Instruments of Accountability – citizens’ charters Problem: Grossly deficient public services with no recourse Solution: - Make citizens aware of services entitled to them through citizens’ charters - Establish minimum standards for public services - Force compensation for delay in rendering of services Impact: - AP government recognizes charters with respect to four public services in municipalities across AP - property tax assessment 15 days - house construction permit 15 days - water connection 30 days - birth & death certificates 05 days - Rs.50 compensation per day for delays in services - In 97% of cases, services delivered on time - 200 citizens receive compensation for delays WWW.FDRI.ORG

  32. Instruments of Accountability – creating watchdog groups Problem: Short delivery and adulteration of gasoline at filling stations. Economic cost in AP of Rs. 1 crore/day Solution: - Mobilize citizen volunteers with pre-calibrated measures to verify pump readings - Inform local media and government officials - Citizen groups conduct ongoing, random checks Impact: - AP department of weights and measures voluntarily fixes meters at all 1500 gasoline stations in the state - Citizens spared Rs. 1,000 crore of fraud over 3 years - 100,000 trained citizen volunteers by 2004 WWW.FDRI.ORG

  33. Speedy Justice – expanding the legal infrastructure Problem: Justice delayed is justice denied. Upwards of 25MM cases pending in Indian courts. Resolution can take decades eroding credibility of the legal system. Street justice often results. Solution: - Build more courts cost effectively Impact: - Lok Satta has prepared draft legislation that would - build 1 court per 25,000 citizens in rural areas - build 1 court per 50,000 citizens in urban areas - mobile courts with proceedings in local languages - courts headed by Nyaayaadhikaaris - deliver verdicts in 90 days WWW.FDRI.ORG

  34. Putting the Pieces Together – building a vibrant civil society Electoral Reforms Implementing Best Practices Empower Local Government Speedy Justice Instruments of Accountability Holistic, sustainable and scalable WWW.FDRI.ORG

  35. Very little goes a long way – expected versus actual costs for 10MM signature campaign Total actual expenditure Lakh Rs. 21! WWW.FDRI.ORG

  36. In Case You Still Have Doubts – governance quality and the fate of nations U.S. Malaysia China India Brazil Nigeria Sources: UNDP, Transparency International WWW.FDRI.ORG

  37. V. Chowdary Jampala, MD – Secretary/Treasurer and Founder, Chicago • Professor and Associate Chairman, • Department of Psychiatry, Chicago Medical School • Chief, Mental Health Services, North Chicago VA Medical Center • Graduated from Guntur Medical College 1979 • NARSAD Young Investigator Award 1991 • Scientific Achievement Award, IAPA, 1995 • TANA Community Service Award 1995, 1999 • MATA Community Service Award, 2001 • Chief Editor, TANA Patrika • Chairman, TANA Publications Committee 1997 – now • Editor, Indo American Psychiatric Association Forum • Past President, MATA • Past President, GMCANA WWW.FDRI.ORG

  38. Five Ways NRIs Can Help • NRI institutional support • Awareness campaigns – changing the debate • Financial support and support-in-kind • Research, comparative studies and seminars • Promoting a positive attitude to promote individual and societal confidence WWW.FDRI.ORG

  39. Five Ways NRIs Can Help • Reach out to existing NRI organizations to build a broad consensus on the need for governance reform in India • Reach out to existing NRI organizations to tap the talent and expertise of like minded individuals towards the FDRI cause • Organizations FDRI will reach out to • Umbrella organizations • Service organizations addressing causes in India • Foundations and charitable institutions • Trade and professional organizations • Cultural organizations NRI institutional support WWW.FDRI.ORG

  40. Five Ways NRIs Can Help • Raise awareness of the need for governance reforms in India • Raise awareness of how governance reform can amplify the many causes that NRIs work for in India • Reorient US-india dialogue from policy reform to governance reform • Aid awareness programs in India that highlight the need for governance reform Awareness campaigns – changing the debate WWW.FDRI.ORG

  41. Five Ways NRIs Can Help • Raise $400,000 by the end of the next fiscal year for Lok Satta activities in India and FDRI activities in the US • Encourage NRI’s to contribute time and talent towards the cause of governance reform • 1.7 MM NRIs in the US – 2% involvement means 34,000 people • 2 hours a week and $100 per year yields 68,000 hours of service and $3.4 MM . An immense amount can be accomplished • Increase the financial base with which FDRI can assist sister organizations across India – currently 35-40% of Lok Satta expenses • Scale-up for a nationwide governance reform campaign Financial support and support-in-kind WWW.FDRI.ORG

  42. Five Ways NRIs Can Help • Select a few, core issues critically dependent on effective governance • The link between the quality of governance and growth • Air and water quality • HIV/AIDS and its societal impact • Agricultural policy, food distribution and its consequences • Highlight the short comings of the status quo • Move from dogma to data – conduct hard edged, analytical research into root causes and identify solutions • Identify best practices from around the world that addressed similar problems • Formulate recommendations appropriate for the Indian context Research, comparative studies and seminars WWW.FDRI.ORG

  43. Five Ways NRIs Can Help • Promote a “can do” spirit in the US and India by highlighting success stories of collective assertion and personal initiative • Develop “Role Model” awards for individuals whose drive, perseverance and leadership results in positive change • Use the media in the US and India to spread the message of self-help and hope • Create forums for like-minded people to exchange ideas • FDRI Yahoo Group – • Websites -, • Publications - Lok Satta Times, FDRI Newsletter Promoting a positive attitude to improve individual and societal confidence WWW.FDRI.ORG

  44. “We must be the change we wish to see in the world.” - Mahatma Gandhi WWW.FDRI.ORG


  46. Instruments of Accountability – rooting out corruption Problem: AP government launches a Building Regularization Scheme (BRS) to ratify minor deviations in construction through a compounding fee - Many applications received - Only 1000 of 8000 cases resolved due to demand for bribes - Rs. 150,000 bribes collected from 300 citizens with no resolution Solution: - Establish a transparent peoples court method of adjudicating BRS applications Impact: - All remaining 7,000 applications adjudicated - All bribes collected were actually returned! WWW.FDRI.ORG

  47. Research and Implementation of Best Practices – power reform Problem: State electricity boards (SEBs) are notoriously inefficient and corrupt. In 2001, the combined losses of SEBs totaled $5BN. In some states SEB losses are up to 60% of state deficits. Solution: - Privatize power generation - Trifurcate generation, transmission and distribution - Transparency in contracts Impact: - Lok Satta is working with authorities to improve the quality of power while sustaining affordability - Four pilot projects established to test different modes of distribution in a franchise model - Projects work with government, concerned citizens and farmers WWW.FDRI.ORG