Union Minister for Parliamentary Affairs, Coal and Mines Pralhad Joshi has said that the Union Government led by Prime Minister Narendra Modi had ensured that there was no policy paralysis despite the nation facing the financial emergency because of the pandemic.
Speaking at an ‘Interaction on Union Budget’ organised by Karnatak Chamber of Commerce and Industry (KCCI) Mr. Joshi said that Prime Minsiter Narendra Modi chose to save lives over economy and that was the reason why the demography was giving back dividends to the nation.
Terming the Prime Minister a visionary who planned with the next 100 years in mind, he said that because of the visionary decisions and planning, India had become the largest and fastest growing economy in the world even amid the COVID-19 crisis.
Listing out the various proposals in the Budget, he said it focussed more on investments, growth and employment generation. Amid efforts to spread canards about the farm policy, the Centre had made highest ever allocation to the farm sector, he said.
Earlier, economist Vishwanath Bhat said that Finance Minister Nirmala Sitaraman faced the toughest challenge of presenting the Budget, when the pandemic had hit the economy badly. And she had come out with visionary proposals under the guidance of PM Modi that would take the country in the path of progress.
Referring to various proposals he said that how the government had planned well for various sectors and how through a multiplier effect, the country would be benefitted in various sectors including in employment generation.
Chartered Accountant N.A. Charantimath, however expressed dismay over the allocation to the education sector. “At a time when National Educational Policy is being implemented at least 5% of the GDP should have been set aside for education. At least now steps should be taken to allocate ₹5 lakh crore to education to begin with,” he said emphasizing on the need for ensuring implementation of the proposals.
Industrialist M.V. Karmari said that like the reduction in corporate tax, tax on the MSME sector should have been reduced as it was the sector that provided highest employment after agriculture.
Prof. B.H. Nagoor welcomed the decision to earmark 68% of the defence procurements to the indigenous productions. Chartered Accountant Sheshagiri Kulkarni stressed the need for further revisions in the tax regime. Naveen Jha said Hubballi-Dharwad could be developed as a hub for skill development training and the potential should be exploited properly. President of KCCI Vinay Javali presided over the interaction. Various office bearers of KCCI, prominent personalities from various walks of life were present.
