Pride Mixed with Concerns – S.L. Joshi
Published on: May 27, 2025
By: [BTNI]
Location: Bangalore, India
Senior tax professional from Bengaluru, Sampatlal Joshi (S.L. Joshi), expressed mixed sentiments regarding India’s achievement of becoming the world’s fourth largest economy. While hailing this milestone as a matter of national pride, he highlighted that India’s rising economic prowess on the global stage is a moment of glory for its citizens. However, he voiced concerns over domestic challenges such as inflation and unemployment, which continue to trouble the populace.
In his statement, Joshi remarked, “India’s rise to the fourth largest economy is undoubtedly a matter of pride. It reflects the strength of our economic policies and global trust in us. However, had the Trump administration in the U.S. not adopted a flexible stance on tariffs against China, India could have potentially secured the third spot.”
Inflation: A Growing Burden on Citizens
Joshi identified rising inflation as the nation’s most pressing concern. He noted that despite GDP growth, the costs of healthcare, education, and basic services have surged significantly. Citing an example, he pointed to the recent 20% hike in municipal taxes in Karnataka, attributed to a garbage cess. Additionally, the rise in milk prices has driven up the cost of daily essentials, with a cup of coffee now costing ₹22, up from ₹12. “These small examples show how inflation is impacting the common citizen’s pocket,” Joshi said.
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AI and the Threat to Jobs
Joshi also expressed concern over the growing use of artificial intelligence (AI). He stated that the proliferation of AI is leading to job losses in several sectors, increasing the risk of unemployment. He urged the government to implement immediate policy interventions to address this issue.
Advocacy for an ‘India First’ Policy
Drawing inspiration from the U.S.’s ‘America First’ policy, Joshi emphasized the urgent need to adopt an ‘India First’ policy. He stated, “An ‘India First’ approach across all sectors will not only strengthen our economy but also bring prosperity to citizens’ lives.” He called on the government to ensure transparency in the tax system, improve civic amenities, and focus on job creation.
Conclusion
Summing up his views, Joshi said that India’s economic progress is a matter of pride, but transforming this growth into prosperity for citizens should be the government’s priority. “We need policies that not only strengthen India on the global stage but also enhance the quality of life for every citizen at home,” he added.
