8 Feb 2020
The Union Budget for 2020-21 has been announced on 1 February, 2020, to herald a decade of growth and prosperity. Prominent themes of this Budget are its focus on governance and financial sector to enhance the ease of living. Continuing on the aspiration to deliver maximum governance with minimum government, the Budget envisages structural reforms, digital revolution and inclusive growth.
In this context, a Panel Discussion to Unfolding the Prominent Themes of Union Budget 2020 was organized by MATS Institute of Management and Entrepreneurship (MIME) for Students on 8 February 2020. The program offered a detailed discussion on the Union Budget 2020. The main theme on which the discussion took place was on the accomplishments of the three themes of the budget 2020 i.e., Aspirational India, Economic Development and Caring Society. This is a normal practice of the MIME institute to conduct such lively sessions for the PGDM students as a support to the knowledge of finance and current updates.
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.
The discussion aimed to amalgamate different perspectives on the budgetary allocation to different sectors of economy so that students can assess and introspect the impact on budget with regards to building a reformed India.
Prof. Seshadri Gopalan, faculty member of MIME acted as moderator of the panel discussion. The panelist were Mr. Raghavendra G, Managing Director- India operations, Unilog, Mr. Sai Sundar, Senior Vice President and Head of Investment, Mr. Mridul Agarwal, Entrepreneur and Mr. Ashish Jaiswal, Head of the Business and Taxation in Clear Tax.
This budget mainly focuses on the growth of manufacturing, agriculture and services. The main aim of the budget was to bring in the confidence in the investors to invest in our country through foreign investment etc. There is an economic slowdown because of no cash in hand, no jobs and disruption of technology. The merger of the public sector banks is one of the topics which the panelist threw light on. The conclusion given by them was that the budget formed is a futuristic review towards robust, linear tax system and a few insights on GST and income tax was discussed.
The panel concluded that this budget 2020 is progressive, forward looking and holistic. It has laid down the foundation for a strong progressive and resilient India. Students enthusiastically participated in the discussion and asked relevant questions pertaining to the current issues and future concern.
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