Southern states deserve fairer share of national wealth based on earnings: Karnataka Chief Minister D.K. Shivakumar
“Excessive enforcement action was driving some wealthy businesspersons out of the country’
Karnataka’s Chief Minister D.K. Shivakumar called for a more equitable distribution of national resources among southern states during a two-day conference in Bengaluru. He emphasized that Karnataka, being one of the largest taxpayers in the country, deserves a fair share of resources despite its contributions to India’s economic growth, including exports, GST collections, and the thriving technology and innovation ecosystem in Bengaluru.
Shivakumar urged chartered accountants to guide individuals and businesses towards compliance and investment, describing wealth as a force that needs to circulate in the economy. He also expressed concern over excessive enforcement actions by investigative agencies, claiming that several wealthy Indians were leaving the country due to concerns over scrutiny by bodies like the Income Tax Department, Enforcement Directorate, and Central Bureau of Investigation.
Shivakumar highlighted the role of professional bodies like the ICAI in Karnataka’s economic development, stating that these institutions were not working for personal gain but were building the nation.
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