The CAG also noted that citizen groups have become very discerning and more demanding.
"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 the speech of first Vice President S Radhakrishnan on the eve of India's Independence, towards midnight on August 14, 1947.
The CAG was addressing the 20th convocation of the North Eastern Hills University here which conferred degrees to 8,035 students including 94 who received doctorate degrees in various disciplines.
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."
He said, today the issues of ethics, accountability, probity and transparency have come at centre stage.
"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, adding, "Time has come when we will all be held responsible for our actions, the way the foundation of an ideal society are laid." (MORE)