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Arthashastra 2006: Annual Union Budget Analysis Held at XIM, Bhubaneswar

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Mr. Sabath provided a humorous relief to the serious topic that the panelists had in front of them. He differed from the views of Mr. Ratanpal by indirectly spearing the current Union Budget. The bone of contention was the fact that the current budget had brought forth a lot of taxes upon the common man. He also mentioned how many people would escape the tax net, given the fact that only 2.8% of the Indian public currently files taxes.
The death knell to the earning class, according to him, was the removal of the Section 88 of the Income Tax Act. Section 88 consisted of a family sub-sections that provided much needed tax rebates to the already over-burdened tax payers.

The panel discussion ended with a question and answer round where the moderator, Prof. (Dr.) Ramana opened the house for further clarifications of queries that the audience might have had. Needless to say, many questions were asked, and were answered in great detail. The experience on the whole was an enlightening one. This was the kind of event where not only the audience, but also the eminent luminaries who come to grace the occasion, take back a part of the common learning. Indeed what an enriching event it was. The success of the event was in fact a form of indirect commendation to the efforts of those who had put in so much to bring such an event to fruition.

Concluded.


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Contributed by -
Rohit Verma,
Coordinator - IlluminatiX,
The XIMB Media & PR Cell,
Xavier Institute of Management, Bhubaneswar.