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Kolkata, July 26 (HS). To strengthen India's economic foundation, it is necessary to pay attention to the country's population and the country's map. Young population and technology are India's biggest strengths and their use is necessary to become a superpower. Renowned economist Dr. Suman K. Mukherjee said the above during a discussion of economic experts held late Thursday evening in Kolkata on the Union Budget 2024-25. In his detailed analysis, he described various aspects of India's economic progress and described the economic policies of the central government as supportable.
Dr. Suman Mukherjee said that 65% of India's population is above 40 years of age and half of the people are above 25 years of age. There are many diversities in the different population groups of India. But the potential population has to be made more productive and involved in the work of progress. They have to be made skilled and maximum use of technology has to be made.
Suman Mukherjee expressed concern over the lack of foreign direct investment (FDI) and said, “This is worrying. Just hoisting the flag will not work. A favorable environment and infrastructure will have to be created to attract FDI. He said that the 'Mudra' scheme has also not been able to get enough response. Small entrepreneurs do not have enough growth opportunities. This sector has to be strengthened further.
Analyzing India's economic progress in the last three decades, he criticized the farmers' movement. He said that agriculture is one of our strengths, but we are not making the expected progress in this sector. Investors have to be brought into agriculture and the pace of progress has to be increased.
Dr Mukherjee stressed the need to bring more people under the ambit of GST. He said that a large number of people are hawkers, shopkeepers and in such businesses. Money from them is going to local parties in various ways, which is not reaching the government.
Suman Mukherjee said that India is the fifth largest economy and is moving towards the goal of becoming the third largest economy. India is ahead of the economies of most countries. Infrastructure is an important pillar in this direction and technology is needed. He said that no technology, no growth. We have to grow faster, faster, faster. He also stressed the need to focus on digitalization.
SBI Life's regional director Sweety Shetty also expressed her views in the discussion. SBI Life Insurance's regional manager Akshay Shetty said, “The average age of people is increasing. There is a need to provide more opportunities for those above sixty years of age.”
Tax consultant Narayan Jain mentioned the announcement of new reforms in this budget, house rent income, remuneration to partners and approaching tribunal, High Court and Supreme Court in legal disputes. Former Commissioner of Income Tax R.S. Upadhyay in his speech emphasized the importance of 'promoting consumption' and 'search and seizure' in the budget. Tax expert and lawyer S.M. Surana highlighted the positive aspects of the budget.
The entrepreneurs present on the dais included Ashok Purohit, Pawan Pahadia, etc. The discussion session was organised under the joint aegis of Calcutta Citizens Initiative, Rajasthan Bengal Maitri Parishad, Concern for Calcutta, National Company Law Tribunal and Kolkata Bar Association.
