This refers to article “Where is the money going?”, by Kum Kum DasGupta (NOV6) . A large part of public money appears to drain away without commensurate creation of durable physical or social infrastructure. While a few benefit disproportionately, the taxpayer is left to wonder why our cities are collapsing even as the economy expands and ambitious visions are announced. Governance and accountability appear to be missing in the management of public finances—and, increasingly, in private financial systems as well. It is time to revamp our financial reporting architecture so that accounts, reports and certifications not only capture numbers but are aligned with the stated vision, mission and outcomes of institutions. Financial statements must reflect performance against purpose, not merely compliance with procedure.
T V Gopalakrishnan
BENGALURU.
( THIS appeared in ET dated 7th Nov 2025).
