Panel Discussion on Budget at GGNIMT

Ludhiana, March 3, 2015: Gujranwala Guru Nanak Institute of Management and Technology (GGNIMT), Ludhiana organised a panel discuss on Budget 2015-16 for the students of BBA, B.Com.and MBA here today. Prof. Manjit Singh Chhabra, Co-ordinator, GGNIMT welcomed the esteemed guests and highlighted the importance of the budgetary process.  

Dr.Kesar Singh Bhangoo, Professor, Punjabi University, Patiala initiated the discussion by explaining and underlining the key features of the budget 2015-16. He emphasized on the macroeconomics policy with special stress on macroeconomics stabilisation. Dr. Bhangoo  did the comparative analysis of this budget with that of the  previous year  and referred to the current budget as “a political or emotional statement that favored the business and corporate sector the most.”

Shubhash Jain, Chartered Accountant represented his views on the impact of budget on the industrial sector. He termed the budget as target oriented as it focused on strengthening the urban and rural economy. He emphasised that the vision of the budget is to make India, an industrial hub and its citizens as Job creators rather than job seekers. He also pointed out that it was the first time when the concept of social security was given paramount importance in the current budget     .

Dr. Ramandeep Singh. Assoc. Prof. Dept. of Business Management, PAU discussed the effects of budget on agriculture and agri- business. He highlighted the various agro scheme such as ‘pradhan mantra krishi sinchai yojana’, MGNREGA. He emphasised on the statistics regarding the increased agricultural credit allocated in the budget and appreciated the schemes apportioned for horticulture, micro irrigation and potato export.

I.S. Khurana, Chartered Accountant talked in length about the impact of budget on unearthing black money. He talked about the enforcement agencies under money laundering act and FEMA 1999 that   have been given powers in context to confiscation and penalties .He also shed light on the laws of Benami transactions, cash-less transaction and gold monetisation scheme.

Prof. Prithipal Singh Kapur, President, Gujranwala Khalsa Educational Council (GKEC) gave the presidential remarks and motivated the youth to channelise their time and energy in the right direction. He urged them to understand the budgetary process and to figure out ways to benefit from it. Dr. P. S Khattra  Principal, GGNIMT thanked the guest for sparing their precious time and sharing valuable insights on the topic.