IMI-Delhi Organizes Panel Discussion on Budget 2007

IMI-Delhi Organizes Panel Discussion on Budget 2007

The fundamentals were right in place and economy was doing extremely well. Indian Inc. was on a buying spree abroad and innumerable MNCs eagerly waiting to enter Indian market. On the date that was expected to stimulate the ongoing economic revolution, the sunrise economy witnessed an eclipse, the euphoria of the corporate world was brought to a transient end by the announcement of Budget 2007 on 28th of February.

In the midst of a flood of debates on TV shows, Newspaper bashing of budget, ruling party defending the budget on one end and the opposition raising the concerns in the parliament, IMI-Delhi organized a panel discussion on Budget 2007: Convergence or Consolidation on 10th March, 2007.

Eminent personalities from academia and industry assembled on the same platform to gear up for the intense discussion on the various aspects of the budget in a storming session that lasted for two hours on the Saturday evening. Panel members included Dr. Bibek Debroy, distinguished professor, former Director of Rajiv Gandhi Foundation and contributing editor of Indian Express, Mr. Tushar Pandey, Country Head (Strategic Initiatives - Government), Yes Bank and Mr. Manpreet Sehgal, AVP (Wealth Management), Kotak.

Mr. Bibek eloquently discussed the last three budgets and explained as to how the entire show for the growth was orchestrated. While discussing the growth story in sync with the liberalization and globalization policy, he brought in the entire new perspective to look at the budget not in isolation but as a sequential process. He also critically analyzed the creation of few of the outlays, inefficiency in the usage of the funds and on the lack of any big bang announcements in the current year budget.

Tushar Pandey, Country Head, YES Bank, discussed some of the important aspects of public-private partnership for the development of the infrastructure. Also, he discussed the much-debated issue of usage of Forex for the development of infrastructure. He discussed the ways how the corporate sector contribution can be stimulated for mobilization of funds dedicated to the process of development.

The effect of budget on the capital market was discussed in detail by Mr. Manpreet Sehgal, Associate Vice President, Kotak Wealth Management. A comprehensive sector-wise analysis was presented to show how few specific sectors like Cement, IT, Automobiles, etc., will be affected by the budget.

The session was concluded with a thought-provoking discussion between the panel members and the students. The event can best be summarized by the comment from one of the panel members, "The creation of outlays is as important as the ensuring and measuring of the outcomes."

Concluded.

Contributed by -
Ritesh,
PGP-I
International Management Institute (IMI), Delhi.

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