<p class="title">Amid economic slowdown and financial crisis, Chief Minister B S Yediyurappa has attempted to present a good budget, which however, lacks vision, said retired professor and economist B S Srikanta Aradhya.</p>.<p class="bodytext">He was delivering the keynote address at Budget Talk - 2020, organised by Deccan Herald and Prajavani, JSS College for Women (Autonomous), Mysuru chapter of Institute of Company Secretaries of India (ICSI) and State Bank of India (SBI), on State Budget of Karnataka, at the college in Saraswathipuram here on Saturday.</p>.<p class="bodytext">“Yediyurappa has taken bold steps to cut subsidy expenditure by modifying a few schemes without affecting the beneficiaries. He should have concentrated on generating non-tax revenue. There is no need for separate development authority for each caste. Why can’t the government develop the people of all castes on a broad-basis? Besides, the numerous boards and corporations of the state government are a waste of money. They have become a means to generate jobs to politicians,” he said.</p>.<p class="bodytext">Aradhya said, “The Budget should have concentrated on completing pending projects, rather than announcing new projects. There is a need to rationalise and streamline expenditure. Instead of splurging on various Bhagyas, the government should concentrate on irrigation projects so that the farmers work hard and create their own Bhagyas (luck)”.</p>.<p class="bodytext">P Puttaraju, retired Additional Commissioner of Commercial Tax, said, the government do not get much in reality for productive expenditure as over 60% of the funds are spent on salaries and allowances, pension, grant-in-aid and grants.</p>.<p class="bodytext">“The remaining 40% of available funds have to be spent on priority sectors such as education, health, agriculture, and irrigation. Physical infrastructure is not the need of the hour. What is the use of having a huge college building without any quality teachers?” he sought to know.</p>.<p class="bodytext">He pointed out that no Indian institution or university figures in top 100 institutions of the world. “Our institutions are largely dependent on part-time faculty members. If this trend continues, there is no future,” he said.</p>.<p class="bodytext">Economist R M Chinthamani said, despite many slogans and initiatives, economy is still dependent on agriculture. “Unless there is growth in the manufacturing sector and exports, economy will not grow. There is not much in the budget to give a boost to industries,” he said.</p>.<p class="bodytext">M B Suryanarayan, Regional Manager of SBI, said, bringing KIADB and KSSIDC under ‘Sakala’ was a welcome move. Principal K V Suresha presided over the event.</p>.<p class="bodytext">K R Parvati, chairperson, ICSI - Mysuru chapter, D N Phani Datta, treasurer, A Harsha, secretary, HoD of Economics K S Rajasekhara and HoD of Commerce H R Arpitha were present.</p>
<p class="title">Amid economic slowdown and financial crisis, Chief Minister B S Yediyurappa has attempted to present a good budget, which however, lacks vision, said retired professor and economist B S Srikanta Aradhya.</p>.<p class="bodytext">He was delivering the keynote address at Budget Talk - 2020, organised by Deccan Herald and Prajavani, JSS College for Women (Autonomous), Mysuru chapter of Institute of Company Secretaries of India (ICSI) and State Bank of India (SBI), on State Budget of Karnataka, at the college in Saraswathipuram here on Saturday.</p>.<p class="bodytext">“Yediyurappa has taken bold steps to cut subsidy expenditure by modifying a few schemes without affecting the beneficiaries. He should have concentrated on generating non-tax revenue. There is no need for separate development authority for each caste. Why can’t the government develop the people of all castes on a broad-basis? Besides, the numerous boards and corporations of the state government are a waste of money. They have become a means to generate jobs to politicians,” he said.</p>.<p class="bodytext">Aradhya said, “The Budget should have concentrated on completing pending projects, rather than announcing new projects. There is a need to rationalise and streamline expenditure. Instead of splurging on various Bhagyas, the government should concentrate on irrigation projects so that the farmers work hard and create their own Bhagyas (luck)”.</p>.<p class="bodytext">P Puttaraju, retired Additional Commissioner of Commercial Tax, said, the government do not get much in reality for productive expenditure as over 60% of the funds are spent on salaries and allowances, pension, grant-in-aid and grants.</p>.<p class="bodytext">“The remaining 40% of available funds have to be spent on priority sectors such as education, health, agriculture, and irrigation. Physical infrastructure is not the need of the hour. What is the use of having a huge college building without any quality teachers?” he sought to know.</p>.<p class="bodytext">He pointed out that no Indian institution or university figures in top 100 institutions of the world. “Our institutions are largely dependent on part-time faculty members. If this trend continues, there is no future,” he said.</p>.<p class="bodytext">Economist R M Chinthamani said, despite many slogans and initiatives, economy is still dependent on agriculture. “Unless there is growth in the manufacturing sector and exports, economy will not grow. There is not much in the budget to give a boost to industries,” he said.</p>.<p class="bodytext">M B Suryanarayan, Regional Manager of SBI, said, bringing KIADB and KSSIDC under ‘Sakala’ was a welcome move. Principal K V Suresha presided over the event.</p>.<p class="bodytext">K R Parvati, chairperson, ICSI - Mysuru chapter, D N Phani Datta, treasurer, A Harsha, secretary, HoD of Economics K S Rajasekhara and HoD of Commerce H R Arpitha were present.</p>
