The third national seminar on union budget was organized at Jaipuria Institute of Management Indore on March 7, 2014. The theme of the budget was ‘Demystifying Union Budget’

The event commenced by offering prayers to Goddess Saraswati and lighting the ceremonial lamp in the presence of esteemed guest speakers, faculty members and students from Jaipuria as well as other Institutes of the city.
Following a tradition of Jaipuria Indore’s “go-green campaign”, Prof. Nitin Merh & Dr. Priti Bakhshi gifted potted plants to the guest speakers.

Prof. Jitendra Mishra gave the welcome address. While addressing the gathering he talked about the learning methodology followed by Jaipuria Group of Institutions.

Prof. Kalyani Parmar introduced the budget seminar based on the Union budget passed on 17th February 2014. She discussed the theme of last two years Union Budget seminars and introduced the theme for the current year.
The panel consisted of   Mr Deepak Bhandari (President, ICO), and Dr Manminder Singh Saluja (Economics professor, IIPS Indore). Dr. Jitendra Mishra moderated the discussion and gave expert comments.

Students got to understand the budget from both academic and Industry perspective through this insightful panel discussion.

The discussion started with, ‘What is the difference between Union budget and Interim budget?’ Comprehensive opening remarks were given by Dr. Manminder Singh Saluja who initiated the discussion through explaining the difference between an Interim Budget and Union budget along with their implications on Indian society. The second panel member, Mr Deepak deliberated on Industry perspective. He talked about taxation problems, high interest rates, and industry’s cost of production, recruitments, salary and the impact on industry. From manufacturing to retail counters excise duty is very high and the amount to be paid for taxes is huge. Multiplicity of taxes that one has to pay on all fronts is also a cause for concern. Govt is playing very smartly and had been doing the reforms that are required. Leadership is required. Indian economy has recovered to a large extent. The govt has to give priority to manufacturing sector.

Dr. Saluja highlighted the budget announcements made in the agricultural and industrial sector. Both the sectors are interdependent, he said. The growth of service sector also depends upon the growth of agricultural sector. Goods and services tax will improve the conditions of multiplicity of taxes on single item .He also talked about planned and non planned expenditure, also about funding the expenditure and revenues properly. Govt has doubled its non-expenditure. Investing for future is marginal and lastly Mr. Deepak has added that Indians are proud savers, they believe in saving and heading towards investment. Students flagged some questions and get them answered by the respective panel members.

Lastly Mr. Ayush Garg, conducted a Budget quiz for all the participants.The winner for the quiz Mr Sawpnil Dilwan(IIPS), 1st runner-up Mr. Aniket Shringarepure( JIMI) and 2nd runner-up was Mr. Bhaskar Samariya (IIPS).

Source: Nikita Gaur, Campuswalkin Specialist
 

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