VIT conclave: 1% GDP allocation to health not a good sign

By: |
Published: August 5, 2019 1:40:58 AM

Columnist S Gurumurthy, who moderated the discussion, said that the Union Budget was a great transformation and a sign of globalisation and liberalisation.

Budget 2019, Union Budget 2019 India, Budget 2019 India, Vellore Institute of Technology, VIT, VIT discussion on 2019 Union Budget, VIT session ChennaiVIT chancellor G Viswanathan said that a meagre 1% of GDP allocation to health and less than 4% to education is not a good sign for the development of the country.

Recently, Vellore Institute of Technology (VIT) organised an all-party discussion on this year’s Union Budget at a session in Chennai, where VIT chancellor G Viswanathan stressed upon the need for electoral reforms with participation of the government, political parties and people.

He said, “The government, political parties and people should sit together to end the menace of cash for votes prevailing in Tamil Nadu. Water crisis in the country has made linking of interstate rivers necessary. West-flowing rivers in Kerala and Karnataka are flowing into the sea without any use to the public. A meagre 1% of GDP allocation to health and less than 4% to education is not a good sign for the development of the country.”

He added the government should come up with policies that help people get out of poverty. “There are 9 crore people in India who earn less than $1 a day; this should change,” he said.

Columnist S Gurumurthy, who moderated the discussion, said that the Union Budget was a great transformation and a sign of globalisation and liberalisation. “Only 3% of the people have involved themselves in the share market, and the rest of the money is coming from FDI, which is not good.” He added that the government and RBI do not share similar views, which should be changed.

Politician S Peter Alphonse said that states have all but lost their autonomy. “The Budget did not offer anything to the people below the poverty line. It also lacked transparency as it did not show the ways how to meet the deficit between revenue and expenditure,” he said.

Parliamentarian Tiruchi Siva added that the Budget has turned out to be a disappointment. “There is no mention about eradication of unemployment,” he said.

CPI member D Pandian said that the Budget was only a jugglery of statistics. “The borrowing in terms of the dollar is not good for the country,” he added. AIADMK’s S Semmalai described the Budget as visionary, but demanded that the cess on fuel should be withdrawn, while MDMK’s V Eswaran added the Budget proposals did not have any schemes to implement the promises made by the Prime Minister during electioneering.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.