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Panel Discussion on Union Budget 2015 with experts
March 04, 2015

4th Mar’ 2015, FIIB Campus, New Delhi: Finance club of the MBA institute organized a Panel Discussion on Union Budget 2015, wherein management students heard the distinguished industry experts deliberating on the various aspects of the budget.

The session started with presentations by first year grads of management, who took the college audience through the major highlights of the budget. Anshika Goel and Kumar Kaushik in their presentation discussed the revenue and expenditure which gave a fair idea on Fiscal Deficit and Revenue Deficit to the MBA audience. Further, Taranpreet Kaur and Arpit Agrawal discussed about Infrastructure Budget, Railway Budget and policy announcements. They stated that accelerating infrastructure development and simplifying policies for public-private partnership (PPP) will boost investor confidence.

The presentations were followed by the panel discussion by the industry experts from Caparo India and Price Waterhouse & Co LLP sharing opinions and thoughts on budget 2015 which allowed management graduates to understand the budget in depth. Mr. Kapil Dev Taneja- Country head - Legal and Secretarial- Caparo India, started with the common man expectations out of budget after BJP’s massive win over other political parties. In addition to basic highlights of the budget, he discussed, how the Budget 2015 supports the new initiatives by the government which encompasses incubation facilities for start-ups, technology-led innovations with help of programs such as 'Make in India', 'Swachh Bharat Abhiyan and ‘Innovate in India', to tackle India's challenges. Mr. Taneja discussed the expectations, deliverables and anticipations from the Budget and in addition, he further discussed how in order to encourage start-ups with technology flow, Finance Minister Jaitley proposed to reduce the income tax on royalty and fees for technical services from 25 percent to 10 percent. He discussed how GST will help in getting more tax revenue and it will be paradigm shift for Indian Economy.

Second half of the discussion was carried by Mr. Amitava Sen- Partner-Price Waterhouse & Co LLP. While comparing the last year budget he said, “Last year's budget was teaser and this year budget is trailer.” He explained in detail the 6 basic themes of the budget which focussed on governments new policies:

  1. Black Money
  2. Make in India
  3. Ease of doing business
  4. Swachh Bharat
  5. Benefit to middle income tax payers
  6. Rationalisation measure
He said the 30 percent corporate tax was higher than the rates prevalent in other major Asian economies which made the industry quite uncompetitive for foreign investments. He explained how proposing the reduction of corporate tax rate from 30 to 25 percent over the next four years would lead to more revenue collection, higher level of investment, growth and more jobs.

Moderator of the discussion Prof. Abhijit Roy concluded the discussion by discussing the current situation of central government’s budget. He said that the central budget is in stress as government has outstanding payment and from next year the 7th pay commission will be effective which will further add to the current situation. He explained that because of current situation, this year, the proposed spending on social security issues like education, health, women and child development was quite restricted. At the end he said, if the tax revenue will increase because of proposed policies, next year middle men should get tax redemption next year.

At the end FIIB_ians got an opportunity to discuss their doubts and concerns regarding the budget with speakers. Students of management discussed about GST, black money, companies policies, etc. to further increase their knowledge.

About Fortune Institute of International Business

FIIB Delhi, provides a bandwidth of beyond the classroom learning sessions to the MBA graduates to strengthen their managerial capabilities through practical application of concepts taught in the classroom. Finance Club of the MBA college, through Panel Discussion, aims to create a fully collaborative environment in which management students can acquire finance related knowledge in a form which is easily understood. The business school stands to provide consistent value addition while keeping students of management informed about latest developments in financial and economic environment. Also, it provides a platform for MBA students to interact with industry experts so that they can be effective future mangers.

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