Bhaskar Kalale, chairman of the Confederation of Indian Industry (CII), Mysuru chapter, said it is everyone’s responsibility to contribute to the growth of the nation.
He was speaking during ‘Budget Talk-2020’ (on Union Budget), organised by Deccan Herald and Prajavani dailies, in association with Mysuru Chamber of Commerce and Industry (MCCI) and Pooja Bhagavat Memorial Mahajana Education Centre, at Tourism Auditorium, on the center premises, on KRS Road, in the city, on Tuesday.
‘No free lunch’
Kalale said, there is no free lunch in any part of the world. So, one should suspect the government’s intention, when it extends freebies and free benefits.
“Budget-2020 has a long-term vision and is part of the objectives of doubling the income of farmers by 2022 and to make India a $5 trillion economy by 2024. But, the goals cannot be achieved, unless the people change their attitude and contribute towards them,” he added.
Annapurna Srikanth, chartered accountant and co-chairperson of Women Entrepreneurs Committee of Federation of Karnataka Chambers of Commerce and Industry (FKCCI) said, India is a highly tax-evading nation and thus, a section of traders and industrialists resisted the implementation of Goods and Services Tax (GST).
Transparency
“GST has eased the indirect tax regime and promoted uniformity across India, despite a few changes in a few states and Union Territories. It has promoted transparency and accountability. Now, almost 80% of the government’s revenue comes from GST and allied taxes. The Union government is responsive to the problems expressed by the stakeholders and has made changes. The loopholes also have been plugged,” she said.
FKCCI ex-president Sudhakar S Shetty said, no budget can make everyone happy. “A budget gets publicity only when people find fault in it. Allocation to various heads in the budget are good. But, the results will depend on implementation,” he noted.
‘Real and realistic’
President of Mahajana Education Society (MES) T Muralidhar Bhagavat said, the budget is ‘real and realistic’. “The government is serious about the process of cleansing the system and the budget is its extension. Tax planning is good for the individual and also society, but, tax evasion is bad for both. Each person should pay his or her taxes promptly to be safe,”
he said.
Pooja Bhagavat Memorial Mahajana Education Centre C K Renukarya said, “There are no plans for either agriculture or industries for revival and growth. Unemployment is at a historical high. There is no roadmap for macro-economics. The allocation of funds under Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is reduced. It will reflect on rural jobs and rural development negatively,” he said.