A unique panel discussion was held at Bharatesh Education Trust’s Global Business School (BETGBS) on Monday 2nd March 2015 on the Union Budget 2015-16. The discussion was aimed at understanding the significance and implications of the Union Budget as also to ignite a keen interest in the students’ minds about the machinations of the country’s fiscal policies. The panel comprised of Dr. A. B. Kalkundrikar, noted economist, Mr. Ajit Date, Senior Editor, Tarun Bharat Daily, Mr. Satish Mehta, CA, Mr. Sanjay Shirguppi, CA, and Mr. Mahesh Bhirangi -MD-Pragati Engineering, Belgaum.
Dr. Kalkundrikar said that so far, states were dependent on the centre for 2/3rd of the finances. Creating a federal approach has helped states to participate actively. He also said that land is a limited resource and must be used judiciously. He commented that countries normally progress from agrarian to industrial and then to service oriented economies, whereas India has directly progressed from agrarian to service economy. The budget aims to strengthen the industrial sector also, he added.
Mr. Date stressed that the current Government need not resort to any populist measures. It depends on the Prime Minister and the Fnance Minister to implement the provisions, adding that the success of this and further budgets would depend on how the issue of the land acquisition bill is resolved. He said that the government is trying to save money in petrol and diesel by increasing prices now while they are low in the international market thereby making provision for future when they would rise.
Mr. Satish Mehta lauded the government for the gold monetizing schemes as also for the thoughtful Make in India schemes. It would reduce gold imports thereby reducing investments of black money in gold. He explained the various provisions for direct and indirect taxes that would affect people.
Mr. Shirguppi felt that the budget is more corporate friendly adding that postponing GAAR would help the country in the long run.
Mr. Mahesh Bhirangi spoke about the government’s measures to facilitate ease of doing business in India while commenting that the budget has done little for the rural sector.
Dr. Govind Welling was the moderator for the discussion. Students from various colleges from Belgaum attended the event. The panel took numerous questions from the audience. Three best questions from the students were awarded cash prizes. Students of Bharatesh Education Trust colleges, management members, faculty members and staff were present at the event. Prof. Omkar Tilve welcomed the gathering. Mrs. Swatee Jog anchored the event. Dr. Uma M.H. proposed the vote of thanks.