Karnal, Feb.12- ‘To address the challenges of global economic crisis in India, we need innovative remedies as proper use of used less and care of cared less. There is an increased demand for an independent thought process which calls for creative manpower Let India of ideas be promoted at international level,’ opined Dr. M.M. Goel, Professor of Economics & Dean, Faculty of Social Sciences, Kurukshetra University, Kurukshetra while delivering the valedictory address of the two days national seminar organized by the Dept. of economics, Govt. PG. College here on friday. He was speaking on the topic, ‘Consequences of Global Economic Crisis for Indian Economy’
To save economy from further financial damage, we need to use the wisdom of the professional academic economists at all levels of the operation as advocated by Dr. B. R. Ambedkar while identifying the functions of Comptroller & Auditor General (CAG) in 1949, told Professor Goel.
To provide grace, destiny and poise (GDP) to Indians, we need to measure gross national happiness (GNH) which is better than the gross domestic product (GDP). This calls for mission mode to remove corruption, population & inflation (CPI) through good governance, manpower planning & inflation targeting, said Professor Goel.
The worries of FEAR (False Evidences Appearing Real) should be kept number one in the list of our enemies. Let us accept the limited capacities and capabilities of human beings to understand Arth (Money or Meaning) and Parmarth which needs coordination leading to permanent freedom from worries. There is a strong case for balancing expenditure with income at all levels of operation in the economy. said Goel.
To wipe the tears of the victims of recession if any, we need to be empathetic with sense of commitment and not lip service with so called sympathy. To pave the path of progress, prosperity and peace ( 5Ps), we need to stop worrying and start living with proper, productive and practical ( 3P) use of hands, head and heart- the real education more than literacy, believes Professor Goel who is the author of the book ‘ Economics of Human Resource Development in India’ published by VK Global Publications New-Delhi.
To reduce the worries in the mental makeup of the middle class including employees, there is a strong case for exempting dearness allowance (DA) from income tax which is a compensation for inflation. Alternatively, there is a strong case for enhancement of income tax exemption limit as envisioned in Direct Tax Code (DTC) said Goel.
Superintendent of Police, Karnal, Sh.Rakesh Arya , IPS was the special guest on the occasion and made a case for the parallel economy to be understood for assessing the Indian Economy . Earlier, Principal, Dr.R,.S.Sharma welcomed the guests present on the occasion . Dr.R.K.Singla Associate Professor presented the report of the seminar . Mrs.Lata Jain acted as a master of ceremony on the occasion attended by Dr.Harvinder Kaur , Professor , Pubjabi University Patial Mrs.Sumitra Chawala, Sh.J.P.Singla Dr. Om Parkash & Sh. Ramesh Ahlawat.