“A good heart is a necessary prerequisite for any one working in the finance sector, much more than MBAs and commerce degree,” said former Governor of Maharashtra and former Finance Minister of Kerala K. Sankaranarayanan.
Delivering the inaugural address at the International Day of cooperatives programme organised by the Karasseri Service Cooperative Bank in Kozhikode on Saturday, the former minister said that any government that denied its employees their salary citing lack of funds had no right to continue in power.
“It is the duty of the government to raise funds in one way or the other,” he said explaining how he increased the liquor tax to 100 per cent to meet the expenses of the State when he was the Finance Minister.
Mr. Sankaranarayan was all praise for the cooperative sector in the country and especially Kerala for staying rooted with the common man. He said that the cooperative banks in the State had a lesson or two to teach the ones in other States.
“Unlike nationalised banks, cooperative banks belong to the common man, the farmer, the underprivileged and the small business owners. It does not deny the common man his right while pampering the rich,” he said.
Elaborating on effective management of the State’s finances, he said that no waiver could be allowed to any one who failed to pay the taxes. “Just make sure that every jeweller gives proper cash memo to their customers and the State government will get at least Rs. 2,000 crore additional tax,’ he added.
