17 February 2018
The Union Budget for the year 2018 - 2019 has come post the effects of demonetization and the introduction of GST with about sixteen months to go for the next Parliamentary Elections.
In this context, a panel discussion on "Unfolding the Underlying Message of Union Budget 2018-2019" was organized by MATS Institute of Management and Entrepreneurship (MIME) for the students on 17 February 2018. The discussion was focused on critically analyzing the effectiveness of the budget in addressing the business issues such as declining farmer’s income, disintegrated rural market, unemployment and economic growth. Further, the discussion unfolded the implication of the key thrust areas that the government pitched up and deliberated on the issues of employment generation, farm crisis, health and education sector, infrastructural development, ease of doing business, entrepreneurship, skill development and start-ups in respect of budgetary allocations.
Dr Jitendra Kumar Mishra, Director of MIME acted as a moderator of the panel discussion. The panelists on stage were Mr. Karan R Kapadia, Co - Founder & Chief Executive Officer of a promising start-up in the robo-advisory space as CEO, Phundo Fintech India Pvt. Ltd., Mr. Vikash Dhariwal, Director of Price water house Coopers, Bangalore, Mr. Sumit Kawariya, currently associated with Clear Tax as CFO and Mr. Sandip Jain, Director - Indirect Taxes KPMG – Bangalore.
The panelists discussed the Budget 2018 deliberating upon the kind of changes that have taken place in contrast to the previous years. They presented how the increased spending on rural infrastructure and higher minimum support price for farmers is aligned to the introduction of the world’s largest healthcare program covering 10 crore families. They even deliberated that the senior citizens have been sought for additional investment avenues.
They expressed that GST was a major differentiator. The panelists threw light upon the fact that the thrust of this budget is rural economy. In context of the businesses, it was debated that the business houses with a turnover of up to Rs.250 crore shall now be subject to 5% less tax. Even in case of start-ups and entrepreneurial opportunities along with the employment generation context, the budget seemed to be quite encouraging.
The panel concluded that this Union Budget 2018 is progressive, forward looking and holistic. It has laid down the foundation for a strong progressive and resilient India.
All the students and faculty members of MIME were present for the informative discussion that took place. They all had enthusiastically participated in the enlightening discussion and asked relevant questions pertaining to the current issues and future concern.
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