Analysis of Union Budget April 2012

The session was a thriving event and was appreciated by one & all. The Institute was successful in bringing eminent speakers from different fields. There were 2 economists, 1 industrialist, & 2 CAs present in the session as speakers which gave a good mix of views on budget analysis. It was an initiative taken up by finance club this year & such session will be put into practice to build a culture for future years.

Objectives of the session:

1.      To make students aware about the relevance of various provisions made in budget.

2.      To have a bird’s eye view on the provisions made during budget.

3.      To build a base for analyzing the union budget.

4.      To know the importance of budget in an economy.

Following were the comments of Speakers regarding Union Budget 2012-2013

In his Inaugural address, Prof. Sumer Singh Yadav, Director, AFMR highlighted the purposes of organizing Budget Analysis Session in the Institute and said the session was chosen so that we can address some issues of immediate concern and which can be of great benefits for our students. He further said that, this session would definitely be an eye opener for all the MBA students as to which sector to choose. Secondly, the students will come to know of various negative insights projected by the government, which will in turn help them to easily choose their sector for employment. Thirdly, young and budding entrepreneurs with this session would be able to easily plan their businesses and the resources required for the same.

Prof. Yadav further added that, we would be organizing this session every year for the benefit of our students. They must be aware of all the provisions available for them so that they can choose the right path for their living.

 “Growth is the important parameter for reducing poverty. The current budget is not satisfactory and fails to address some important issues such as black money, corruption, fiscal deficits, improper investments etc.”this was transpired byDr. Ganesh Kawadia, an eminent economist during the session on “Analysis of Union Budget 2012-13”.

On the contrary Mr.ShashankAgrawal, renowned Industrialist, also present during the session, said, the present budget is satisfactory. He further said that, the figures have to be appreciated because India is a developing country. Thus, the government is trying to balance and bring down fiscal deficit.

CA TribhuvanSachdeva focused on direct taxes issues in budget 2012-2013. He said the tax collection policy of India is working on a lower scale. He stated that government should emphasize on increasing tax payers rather than increasing tax rates.

CA Sunil Jain explained about indirect taxes. He had thrown light on importance of excise duty on prices of products. According to him Government must see the impact of rate of taxes on the price of the product.

Dr.Malani, Keynote Speaker connected the overall budget with the economy. He clarified the role of each individual towards Budget analysis. He said the budget will benefit in long term.

On the occasion Dr.JayantilalBhandari, Eminent Economist also shared the dias with the speakers. Mementos were given to all the speakers by Mr.GauravSojatia, Chairman of the Institute. Vote of thanks was proposed by Prof. Silky Janglani.