Budget analysis 2016-17

Thursday evening [3rd March 2016] saw Bharatesh Education Trust’s Global Business School students assemble at the seminar hall on campus to participate in an enlightening panel discussion as a part of their academic course, dealing with ‘Budget analysis 2016-17’, a subject designed to help develop a economical, financial, social consciousness in future and encouraging the application of analytical learning among the youth. There was a huge participation of students from premier colleges of Belagavi.

The two-hour long discussion, brought together by Professor Govind S. Welling, featured five eminent panelists working in different sector. The discussion was held in two phases: each panelist made a 20 minute presentation about their field of work and how proposed budget can help improve economic conditions, which was followed by a discussion and a Q&A session with students.

 

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The session started with a welcome address by Dr. Uma M. H., Associate Professor, BETGBS. She spoke extensively about the significance of fiscal policy and drew a clear line between economic growth and social development. She emphasized on the fact that the administration needs to recognize the pressing need for a sustainable economical growth so as to develop our country from holistic perspective.

The first panelist was Mr. Ajit Date, senior editor, Tarun Bharat Daily expressed that a journalist is a link between the government and society and highlighted on the measures to be taken for the successful implementation of budget. He stressed on controlling passion towards corruption and gold purchase.

The second panelist was Mr. Jayakumar Patil, Chartered Accountant, has highlighted on sector wise facts and more stressed on direct and indirect tax aspects. He also discussed the how rupee comes in, rupee goes to, fiscal disciplinary actions, augmentation of infrastructural spending, rural electrification etc.

This was followed by Mr. Mahaveer Upadhye, Industrialist, Yashwant Industries, presented a broader perspective of the budget and concentrated on nine pillars of budget as expressed by the Finance Minister. Sir also highlighted the deflation in the developed world, struggling commodity exporters, India-Rural stress due to draughts and unseasonal rain, Public sector stressed bank loans, Noisy opposition.

The fourth presentation was by Mr. Mahesh Bhirangi, MD, Pragati Engineering, expressed his views related to auto industry and export promotion measures.

The final talk was by Prof. J. G. Naik, former Registrar Evaluation, RCU, expressed that the budget is oriented more towards generation of employment through skill developments which leads an individual to become more self reliant and self sufficient.

Professor Govind S. Welling, Director, BETGBS, in his summary report highlighted the significance of fiscal policy and its influence on socio-economic development. He consolidated the views of all the panelists from sectorial context and presented before all the students.

After the panel discussion, students raised the questions to the panelists on the related aspects of the budget and obtained fruitful insights. The best questions were awarded with a cash prize. The first prize was bagged by Ms. Kavita of Bharatesh Degree College & second prize was given to Mr. Deepak of Bharatesh Degree College.

Mr. Moses Paul proposed the vote of thanks at the end of this event and conveyed the sense of appreciation to all the participants for their active involvement and making this panel discussion a grand success.