Bahi Khata
Union Budget analysis- 7th February 2020
Bulls and Bears, the finance club of PDPU, in collaboration with Anirveda, the technoeconomics club of PDPU, conducted a panel discussion on the Union Budget that was announced a week before. The panel discussion was led by the three honorable guests- Mr. Rajesh Shah, Mr. Rasananda Panda, and Dr. Himani Baxi.
First up was Mr. Shah, who gave an overview of the budget. He started off with the government’s main concerns- coronavirus and the related sanitation issues, technology taking away jobs, insolvency and bankruptcy, and monsoon. He briefly explained the tax slabs, the removal of DDT, skill development and education, as well as digitization and start-ups. Next up it was Mr. Panda who gave the macroeconomic analysis of the budget. He began by saying that this year’s budget could’ve been much better and shorter. The current economic slowdown, coupled with inflation can lead to a stagnant economy. Mr. Panda says that such a situation calls for higher, more assertive spending by the government, even if it has to use its forex reserve. He further detailed that with the slowdown, it is not possible to balance the fiscal deficit. Finally it was Dr. Baxi, who gave a detailed peep into what the budget is all about this year. She started off by saying that the budget determines the standard of living for the people. Today, India is a 2.9 trillion dollar economy, which the government wants to boost to 5 trillion dollars in 5 years’ time, which is extremely difficult, given current statistics.
The discussion was followed by a Q/A session, where the students were able to clear their queries regarding the budget. Questions about the state budget, states’ reaction to union budget, tax slabs and corporate tax exemption, farming, loan waivers and investments were asked. The event helped the students in really contemplating what the budget is about, how to break it down, and how it affects individuals across the nation, and the nation as a whole.
Get a glimpse
