I had never heard the term "transparency revolution" until I read your post, but a quick search of Google reveals that it is presently a subject of great discussion, not only in India but elsewhere. To the extent that I understand the meaning of the term, this revolution sounds like a good thing that should indeed be practiced as widely as possible. Here is an article that I found particularly useful in helping me understand the term:
I think transparency is an enlightened idea, but I don't really see it as possible in the long run. I think that the information revolution and twenty-four hour news, as well as the prevalence of cameras and recorders in cell phones, makes it harder to hide. That just means governments will go to extra steps to hide their secrets.