JAMMU, Feb 25: Indian Institute of Public Administration (IIPA) J&K Regional Branch today organized the 4th Ram Sahai Memorial Lecture on “Demonetization” in memory of Late Shri Ram Sahai, one of the founding members of the Regional Branch.
Sanjay Kumar, Senior Advisor Deloittee, India, delivered the key note address, while BR Sharma, Chief Secretary and Chairman IIPA, J&K Regional Branch was the chief guest on the occasion.
The function was held under the guidance of Dr Ashok Bhan, Patron IIPA and Er JBS Johar, Secretary, J&K Regional Branch.
Sanjay Kumar in his key note address enlisted the effects of demonetization from the perspective of various economic indicators and was of the view that the real benefits of demonetization will accrue with time. He said that demonetization has been able to take the stock of unaccounted money but hasn’t been able to curb the flow of black money into the system. He said that the Government is leveraging data analytics which will surely bring is transformational change and improve voluntary compliance in the long run.
BR Sharma, Chairman IIPA, J&K Regional Branch in his presidential address said that sledge hammer approach like demonetization is the way forward if the nation wants to have long term benefits. He said that the sheer gut of the common citizen surpasses the scholarly attributes and this move indicates that the citizen of India intends to participate in the governance process.
Chander Gulati in his welcome address introduced the subject and the guest speaker to the audience.
Nandan Kuthiala while recalling Ram Sahai’s contribution to the IIPA, Chamber of Commerce and Industries and many other organizations, pointed out various aspects of his life as an industrialist who worked for the development of the industry in the State.
Rahul Sahai, Chairman, Sahai Group of Companies thanked the organizers of IIPA in institutionalizing this lecture series and offered his support for future events in this direction. In his vote of thanks he said that the industry has an onus of responsibility to be a cog in the great wheel of change in this country. He said that India is getting on its fast track wheels and the nation building process is in its full swing.
“The short term impact of demonetization on our economy will be economic discipline and people practicing austerity. The long term impact would be growth in business enterprises”, Sahai added.
He recalled the contribution of Ram Sahai in the world of commerce. “He was a spokesperson not only of the corporate world but also of the civil society. As such he bargained hard with the Government to benefit the both and many a times succeeded in harvesting fruits for all”, Rahul Sahai maintained.
Dr Komal Nagar, Joint Director Seminars, IIPA conducted the proceedings of the function, while Dr Anil Gupta, Joint Secretary, IIPA coordinated the event.
The function was attended by members of the civil society, various trade, commerce and industrial associations, members of IIPA and family and friends of Late Shri Ram Sahai.