Nirmala Sitharaman stated Business failures must not be looked down upon

In Parliament on Thursday Lawmakers cutting across party lines uttered about Café Coffee Day founder VG Siddhartha, whose body was discovered floating on the Netravathi river in Karnataka which he is assumed to have jumped on Monday.

Concerning Siddhartha’s unfortunate death while in the debate on the Insolvency and Bankruptcy Code in the Lok Sabha, Nirmala Sitharaman the Union finance minister said that business failures should not be tabooed or looked down upon.

In Lok Sabha, she said that on the contrary, we should give an honourable exit or resolution to the problem in the letter and spirit of the IBC.

Congress’s Digvijay Singh in Rajya Sabha urged the government to recapture the faith of industrialists.

He said that the economy is in bad shape. In 2018, around 1.10 crore workers became unemployed. Among them, 90 lakh were from villages. Five lakh cars, 30 lakh two-wheelers remained unsold. 100 car dealers have closed their shops.

In a letter purportedly written by Siddhartha, he asserted, amid other reasons, harassment by the Income Tax department as the cause for exerting his own life. The IT department has rejected the charges.

Share this to your,

Leave a Reply

Your email address will not be published. Required fields are marked *