Mangalore: Bad monsoon & overseas crisis likely to Dampen Indian economy: CA K Narayanan

Bellevision Media Network

Mangalore, 17 Jul 2014: The erratic monsoon and crisis in various countries might reduce the economic growth of our country which in turn may hamper the economy itself, said Krishna Naryanan, Bangalore-based chartered accountant and a tax analyst.
 

Narayanan was delivering his keynote address on Analysis of Union Budget 2014, organized by Kanara Chamber of Commerce and Industry (KCCI) at their premises here on Wednesday July 16.

 

Narayanan further said, ‘Today there is greater need to do less talking and more doing.  Due to the policies of the past regime, GDP growth has considerably decreased. The new government has taken some promising steps which have given a ray of hope to the industries and the market. But due to the bad monsoon and overseas crisis, there might be sharp decrease in the productivity and hike in prices of essential commodities which will hamper the growth rate. All we can do is hope for the best.’

Commenting on the new budget, Narayanan said, ‘With few policy changes it has shown that it is here for the long run of 5 years. Instead of announcing popular schemes it has been trying to stabilize the growth rate which is promising.’

In the past 20 years, we had collision governments in the centre. The reigning government that tried to stabilize the economy had to listen to collision partners which  has resulted in implementing less growth oriented programmes due to which the country suffered badly, added Narayanan.

The city income tax Lakshmi Hande, deputy income tax commissioner D K Jha, indirect taxes senior advisor Srinath S, executives of KPMG - Bangalore were present on the occasion.