Rai also said that ethics, accountability, probity and transparency are now in focus at a time when everyone will be responsible for their actions.
"Citizen groups have become very discerning and more demanding. What was earlier the silent and hence probably the suffering majority has begun to speak up," the CAG said addressing the 20th convocation of the North Eastern Hills University here
"Time has come when we will all be held responsible for our actions, the way the foundation of an ideal society are laid," he added.
The Government auditor also said that India will not be able to raise the standards of efficiency in administration unless corruption in high places is destroyed and nepotism and black marketing is rooted out.
"Unless we destroy corruption in high places, root out every trace of nepotism, love of power, profiteering and black marketing which have spoilt the good name of this country in recent times, we will not be able to raise the standards of efficiency in administration as well as in the production and distribution of the necessary goods of life," he said quoting excerpts of a speech of first Vice President S Radhakrishnan.
Degrees were awarded to 8,035 students including 94 who received doctorate degrees in various disciplines.
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Reminding the students that there are great opportunities ahead in their career, Rai warned that "when power outstrips ability, we will fall on evil days."
Maintaining that ethical management and leadership is the cornerstone for any business enterprise, Rai said, one "cannot compromise" with integrity whether in public administration or in corporate administration.