Date:31/07/2004 URL: http://www.thehindubusinessline.com/2004/07/31/stories/2004073102121900.htm

Back 'Widening urban-rural divide will drive out investors'

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(From left) The Chairman, Hindustan Aeronautics Ltd, Mr N.R. Mohanty; the President of Bangalore Management Association, Mr A.K. Saxena; former Prime Minister, Mr H.D. Deve Gowda; and the Karnataka Labour Minister, Mr Tanveer Sait, at the inauguration of Golden Jubilee Convention of the Bangalore Management Association Vision-2020 in Bangalore on Friday. - V. Sreenivasa Murthy

Bangalore , July 30

STRIKING a note of sternness on the utter discard from politicians and bureaucrats for the common objective of eradication of poverty and reducing the rural and urban divide, former Prime Minister and Janata Dal (S) President, Mr H.D. Deve Gowda, said on Friday that such a phenomenon only undermined the image of the country resulting in investors taking a dim view.

"The image of the country should not be allowed to suffer, especially in the view of the investors," he said.

Inaugurating the two-day celebrations of the Golden Jubilee of the Bangalore Management Association (BMA) here, Mr Gowda asked corporates to do their bit in return of fiscal and budgetary concessions.

Referring to the resentment among the IT sector in Karnataka, on the infrastructure front and the recent tax proposals, he said that the Government would make all efforts to solve the problem. He felt that it was time the IT industry shared the burden of taxes, levied to achieve the objects of raising resources to improve the lot of the rural sector.

He pointed to the tax concessions enjoyed by the sector and said it was their social responsibility to share the burden of the poorer lot.

He also had a word of advice to politicians and said they should sink their differences and concentrate on the priority agenda of poverty eradication and improving the economy for equitable distribution of wealth among the people.

Among others, the Karnataka Minister for Labour, Mr Tanveer Sait, Mr G.N. Venkataraman, former President of BMA, also spoke.

Mr Venkataraman said Bangalore took the lead in forming the professional body for managers in the country in 1953, which was followed by the formation of the Indian Management Association in 1957.