It is a great challenge to take out the Indian economy out of Global recession when all the nations are striving to come out of financial crisis from the present scenario of Global Recession, read the press release mailed by Sahakar Bharati
Shri Jyotindra Mehta, the national president, SahakarBharati and the chairman, Gujarat Urban Co-Op. Banks’ Federation responded in the aforesaid manner on the Central Budget presented today by the FM today in the parliament.
He informed that large investments in agriculture sector and infrastructure sector is an appropriate strategy. The results will be seen in long term and will help to strengthen the foundation of the economy.
Now, when the Banking sector has no alteranate to show the gates of prisons for the willful defaulters of the Banking system, it has been a compulsion for the FM to provide the Nationalised Banks the capital support. As against which, the Co-operative Banks, which are running without Governmental financial support, but with the support of middle class people, who has been asking merely for income tax exemption under Section 80-P, have been disappointed once more and done injustice to the co-operative Banking sector as a whole, press release added.
The voluntary disclosure scheme proposed to extract black money is a move in right direction. Conciliation in the old cases of Income Tax disputes is a welcome step.