Impact of the Budget on Aam-Admi and Industries
The PGPWE (Post Graduate Programme in Management for Working Executives) 2012 Batch of IIM Raipur organized a Symposium on “Impact of the Budget on AamAdmi and Industries in Chhattisgarh” on 2nd March 2013.
The symposium commenced with Prof.
B .S Sahay, Director, IIM Raipur emphasizing on the importance of pre-budget and post-budget analysis by the students. According to Prof. Ajit Prasad, Dean, IIM Raipur, “This budget is just a series of numbers and not really a budget per se where major policies are missing. Government still doesn’t have enough tools to combat 2 flaming issues of the country: inflation and unemployment.”
Prof. M. Kannadhasan, Chairman (PGPWE) holds another perspective. According to him the government this year is aiming to bring down fiscal deficit to 4.8% and hence is taking all the necessary steps to bring that change for the coming financial year. He pointed out that the budget addressed the inflation and unemployment issues indirectly.
Dr. HanumantYadav, Ex. Member, Chhattisgarh Planning Commission started with the definition of AamAadmias given by R.K Laxman. AamAadmi is the person who is just a spectator but has no role the budget. Dr.Yadavfocussed his talk on economic aspects of the budget. He said that the goal of the economy is higher economic growth with inclusive development. He further talked about the upcoming project ‘National Institute of Biotech Stress Management’ in Chhattisgarh.
Ms. Ritu Jain, FCA, Consultant emphasized on the need for greater transparency in the income tax payment process.Foraying into the education sector she talked about strengthening the existing colleges and universities rather than setting up new universities and colleges. She stressed on the need to shift focus to renewable energy instead of importing fuel from outside.
Mr. Rajesh B Doshi, FC (Sr. CA) highlighted that no retrospective amendments have been made in the finance bill which is a positive point. He touched upon the decline in FDI which will lead to decrease in dollar inflow thus increasing import prices. He also emphasized on interest rate disparity of education loan and housing loan. He acted as a moderator of the panel discussion.
Mr. S.K.Goel, Director, Goel Group of Companies presented his views from the industry perspective. He emphasized on the increase in incentives in green energy sector due to the high cost of production. He said that skill development and job training is the need of the hour in Chhattisgarh. He also stated that there is huge scope for IT Industry, Auto industry and Agriculture industry in Chhattisgarh.
The discussion on the budget considering its effects on the common man brought about different views from the experts which helped the participants to understand various perspectives..
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