Karnataka’s Chief Minister D.K. Shivakumar sought a fairer share of national resources for southern States, highlighting his State’s contribution to India’s economic growth, and cautioning that excessive enforcement action was driving some wealthy businesspersons out of the country.
On August 21, he inaugurated Samvada, a two-day conference organised by the Bengaluru branch of the Institute of Chartered Accountants of India (ICAI). Addressing the gathering, Mr. Shivakumar said southern India was playing a major role in national development and deserved an equitable share of resources.
“Karnataka is among the largest taxpayers in the country. If Maharashtra is kept aside, Karnataka is a major contributor,” he said, pointing to the State’s role in exports, GST collections, and India’s technology and innovation ecosystem.
The Chief Minister said, “Bengaluru had emerged as a preferred destination for global corporations because of its talent pool, education ecosystem, and business environment. All Fortune 500 companies have come to our city. Whether it is information technology, aerospace, or any other emerging technology, Karnataka and Bengaluru are taking the lead.”
Referring to a recent meeting of southern Chief Ministers, he said the States had raised concerns about the need for a more equitable distribution of resources.
“What we deserve is based on what we earn. We need a proper share,” he insisted.
CAs should guide individuals, businesses towards greater compliance
Addressing the audience of chartered accountants, he said CAs should use their professional expertise to strengthen the economy, and guide individuals and businesses towards greater compliance and investment.
“The word ‘trust’ has come into your blood. You have to preserve that,” he told the gathering, adding that money, like blood, needed to circulate in the economy. “Wealth should lead to investment and social cooperation,” he added.
Over-scrutiny driving the wealthy away
Mr. Shivakumar struck a note of caution over what he described as excessive action by investigative agencies. He claimed that several wealthy Indians had moved overseas in recent years, partly due to concerns over scrutiny by agencies, such as the Income Tax Department, Enforcement Directorate, and Central Bureau of Investigation.
“Why are these people leaving? They want to live peacefully,” he said, while arguing that honest taxpayers should not face unnecessary harassment.
Mr. Shivakumar said professional bodies, such as ICAI, had played an important role in Karnataka’s economic development by providing sound guidance. “You are not working only for yourselves. Basically, you are building the nation,” he told the chartered accountants.
Earlier, Kavita Parmesh, chairperson of the Bengaluru branch of ICAI, said the two-day conference would provide a platform for professionals to discuss increasingly complex regulatory challenges. With no individual or institution capable of addressing such challenges alone, dialogue and collective deliberation were essential, she added.
Published – August 21, 2026 02:35 pm IST
