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By:

Rajeev Kejriwal

26 April 2026 at 1:28:42 pm

Water Can't Wait !

Nations are often judged by the monuments they build, the highways they inaugurate or the skylines they proudly showcase. Yet history has a quieter benchmark. It asks a far simpler question: Could every citizen drink clean water without anxiety? Everything else is secondary. Civilizations have risen beside rivers and disappeared because they failed to manage them. Water has never been merely a resource. It is the first condition of life, health, productivity and dignity. A nation may postpone...

Water Can't Wait !

Nations are often judged by the monuments they build, the highways they inaugurate or the skylines they proudly showcase. Yet history has a quieter benchmark. It asks a far simpler question: Could every citizen drink clean water without anxiety? Everything else is secondary. Civilizations have risen beside rivers and disappeared because they failed to manage them. Water has never been merely a resource. It is the first condition of life, health, productivity and dignity. A nation may postpone many ambitions, but it cannot postpone water. Bharat has made meaningful progress, but the uncomfortable truth remains, that we are still building the very arteries that should have been in place decades ago. Our potable water network is still at a nascent stage, demanding not celebration, but sustained resolve. The Jal Jeevan Mission and AMRUT brought unprecedented attention to drinking water infrastructure and transformed the national conversation around water security. They infused urgency into a challenge that had long been accepted as routine. Pipes were laid, treatment plants expanded and millions gained access to tap connections. These initiatives proved that when political will aligns with administrative execution, transformative change is possible. Yet infrastructure does not mature through isolated bursts of activity. It demands continuity. Momentum, once lost, is painfully slow to regain. The recent slowdown is more than administrative; it risks pausing a national purpose. Factories reduce output, contractors hesitate, investments stall and skilled manpower disperses. Every interruption today raises the cost of catching up tomorrow. Infrastructure thrives on continuity, not episodic enthusiasm. Development cannot be switched on and off like a tap. An unfinished pipeline is not simply an engineering gap. It is a reminder that development delayed is development denied. Perhaps the larger concern lies elsewhere. Water infrastructure rarely dominates political discourse because its success is almost invisible. It quietly prevents disease, reduces healthcare costs, frees women from the burden of collecting water, improves school attendance and strengthens economic productivity. Its failures, however, are unmistakable. They appear as dry taps, contaminated supplies, tanker queues and rapidly declining groundwater reserves. The finest public infrastructure is often the one people barely notice because it never fails. We celebrate airports, bridges and expressways because they are visible symbols of progress. But clean drinking water is a deeper achievement. It is the infrastructure that protects every other investment in society. Hospitals become less burdened, schools become more effective, industries become more productive and families become more secure when safe water is available consistently. The image is simple. A pipeline resembles an artery. When it carries clean water, communities thrive. When its construction slows, development itself loses rhythm. Bharat cannot afford that pause. Climate uncertainty is increasing. Urbanisation is accelerating. Groundwater is under growing stress. Population growth, industrial demand and changing rainfall patterns will only intensify the challenge. The question is no longer whether Bharat should invest more in water infrastructure. The real question is whether it can afford not to. This is precisely the moment to intensify effort—not dilute it. What the nation needs is substantial sustained investment, concentrated administrative thrust and unequivocal political attention towards universal access to potable water. Water infrastructure should not be viewed as a periodic government programme but as a permanent national mission that transcends political cycles. The destination is visible, but the journey is unfinished. Because history will not remember how many pipelines were sanctioned, tenders awarded or projects announced. It will remember whether every citizen finally received the dignity and security of clean drinking water.
Water is not expenditure. It is one of the highest-return investments a nation can make. Every rupee invested in clean drinking water returns many times over through better health, higher productivity, stronger economic growth and greater human dignity. When Bharat secures water, it secures its future. A nation that waits for a crisis before investing in water has already waited too long. (The writer is a bilingual author with five published titles to his credit.)

Lateral upgrade to ailing annihilation

Updated: Oct 21, 2024

Lateral upgrade to ailing annihilation

Being the first person from the private sector to be appointed as chairperson of Securities and Exchange Board of India (SEBI) as part of the government’s lateral initiative, Madhabi Puri Buch also holds the honour of being the first woman to hold the top post as capital market regulator.

But the laurels that the former private sector banker enjoyed in her earlier stint with ICICI Bank, was marred with allegations that she and her husband were having a stake in offshore entities, which were used to artificially inflate shares of Adani group companies.

Terming the allegation as `character assassination, Buch clarified that all disclosures have already been furnished and the fund in question did not invest in any securities involving the Adani group.

When it rains, it pours. This allegation was subsequently followed by Congress Party allegation that Buch had received salary and post-retirement benefits from ICICI Bank after she quit the private sector bank.

In its clarification to the stock exchanges, ICICI Bank asserted that the payments made to Buch were purely retirement benefits after her exit from the bank and they were neither salary nor employee stock options.

Prior to these allegations, Buch tenure at SEBI was all about bringing in quick reforms on operational issues by changing the format of consultation paper to bring in larger responses digitally. Being data savvy, the rationale of her decisions were democratic based on big data analysis derived from the responses received to the consultation papers.

Further she bifurcated the duties of the SEBI staff between operations and enforcement, which were done by the same persons earlier. Having worked for the private sector in the capital market domain space, Buch had a better understanding of the subject compared to officers from the administrative service in the past that reflected even in her orders as a whole-time director at SEBI before becoming the chairperson. As a whole time director at SEBI, her orders on adjudication issues were more directional to the capital market space, according to experts in the compliance space. She was also quick to revamp the old provisions of the 90s at SEBI.

Being tech and data savvy, Buch enhanced regulatory surveillance and detection of market manipulation, insider trading and fraud while also emphasizing on strengthening corporate governance by introducing stricter rules for independent directors and enhancing disclosures for related-party transactions.

To put in perspective, the annual report of the capital market regulator in the just concluded financial year revealed that the number of investigations related to insider trading jumped to 175 in 2023-24 from 85 in the preceding year while probes related to front running jumped over three times to 83 from 24 in the preceding year.

Transparency in mutual funds by implementing measures to protect retail investors along with tightening norms for initial public offers, particularly in the SME platforms were some of her other positive initiatives including confirmation of denial of any market rumours within 24 hours for the top 100 listed companies which will be extended to top 250 companies from December 1. However increased transparency and compliance with tightening regulations led to increased operational costs for the market participants and hence faced resistance from certain quarters. Born in 1966, Buch completed her primary education in Mumbai and graduated with specialization in Mathematics from Delhi and later obtained a management degree from Indian Institute of Management, Ahmedabad. In between, she got engaged to Dhawal Buch, a director at a consumer goods multinational at the age of eighteen and got married at the age of 21.

Besides ICICI Bank, Buch also worked as a lecturer at a college in England, worked at Greater Pacific Capital in Singapore and ICICI Securities as its CEO. She also worked as executive director on several private sector companies and as a consultant for New Development Bank (Brics Bank).

What now remains to be seen, is whether Buch, who survived the 26/11 terror attack when she along with her husband, was attending a meeting at Taj, be able to overcome the current ordeal. Keeping fingers crossed for the times to come.

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