Economy has to be regulated and not control : Yashwant Sinha

By Dr Sanjay Chaturvedi

Mumbai 22nd Dec 2010, “ I am against high inflation, high interest rates and high indulgence of regulators in the economic activities. Let the tax be paid and I am dead against and Voluntery Disclosure Schemes.” Said Yashwant Sinha, former FM of India. He was speaking at 3rd D M Harish Memorial Lecture at IMC, Churchgate Mumbai organised by The Chamber of Tax Consultants and D M Harish Foundation. “There is no consensus at the center. Growth without Equity is like a jungle and with equity it is like garden.” he said. He was speaking on the subject of Economic Growth, Equity and Taxation.

“ If there is no equity then this growth will become soulless and unacceptable. I cam from a state where naxals are active. The latest description is the inclusive growth. First Five Year Plan was formulated to promote rapid employment and equality. In the second five year plan also we have seen the emphasis. But after tenth plan we have just changed words but the objectives are the same.” he added.

Talking on the occasion, Deepak Parekh, Chairman, HDFC said that we need governance at every level. We require to govern centre government. He sited the number of hours parliament conducted business recently. He emphasized on governance at local Self government level where corruption is taking the toll. And he also suggested that we require to have more thoughts on corporate governance.

Earlier, Anil Harish, partner D M Harish & Co. and son of Late shri D M Harish welcomed the guest and sited that we are surrounded by volcano like one at Europe where CWG and instances like these need to be matter of concern. He also said that he and his team is working on upgrading the volumes written on taxation by his late legendary father Shri D M Harish.