India, April 25 -- In the iconic BBC TV series, Yes, Prime Minister, Sir Humphrey Appleby once remarked, "We mustn't let daylight in upon magic (episode: 'The Smoke Screen')." It was not only a defence of discretion, the abiding trait on which he thrived, but also a justification of something deeper and close to his heart. Institutions work best when their inner workings are not examined too closely.

Without credible institutions, rules lose force and contracts lose meaning. If one looks around in India and globally today, there is a growing sense that what we once accepted about institutions - their credibility and public legitimacy - has been eroding and not without reason. The shift has not come as a shock. It has been gradual, almost...