News Karnataka
Friday, December 09 2022
Mysuru

‘Karnataka economy will go down in 5 years’

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Mysuru: The Karnataka economy is like to have problem in the next five years said R S Deshpande, former director, Institute for Social and Economic Change, Bengaluru.

Delivering a lecture on “Karnataka Economy” after inaugurating the Planning Forum and Kautilya Forum of Economic Thoughts at an event organised by the Department of Studies in Economics and Co-operation, Manasa Gangotri at EMRC Auditorium here on Friday he said “Karnataka economy is likely to have problem for the next five years. We are at a threshold where problems may come economically, politically and socially and these will be quite difficult to handle. I am telling this after going through three important components which include the discipline of finance in the state that is not in the hands of good people; we are losing our ground very fast and we are at a very sensitive stage and as far as investments is concerned we are not attracting sufficient of them in the state in the sectors in which we have scopes for additional employment. Therefore it is a real testing time for Karnataka”.

“Going by today’s phase, tomorrow is going to be very difficult as per as state craft is concerned. We do not have enough of resources and we do not have even the avenues to generate resources for public investment. So we need to get private investments and encourage the move. Our saving rate is not high and is rather going down. Hence we need to attract investments from outside the state if necessary or even from outside the country”, added Deshpande who however mentioned that Karnataka rainfall system is best in the country. On the occasion he also opined that both Amartya Sen and Kautilya are welfare economists but Amartya Sen is known as the technical welfare economist while Kautilya was known as political welfare economist.

For the welfare of students and researchers, under Planning Forum and Kautilya Forum of Economic Thoughts, Department of Studies in Economics and Co-operation, Manasa Gangotri will conduct various programmes including seminars, workshops and debate on state and central budget.

S Indumathi, former vice chancellor, Davangere University and Chairperson of Department of Studies in Economics and Co-operation A R Vishwanatha were also present. Students participated in large numbers.

‘Karnataka economy will go down in 5 years’
‘Karnataka economy will go down in 5 years’

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