PRE-BUDGET_PANEL_DISCUSSION-2016

Every year, MBA students of GITAM Institute of Management conduct the very useful exercise of a pre-budget survey, trying to capture, at the grassroots level, the expectations of various sections of society, with regard to the Union Budget. Indeed, every section of the community has expectations. No one wants to pay more taxes and everyone wants more and better public services. Even in the best of times, Budget making is very difficult exercise in India. Given the depressing global environment, marked slowdown in domestic manufacturing and increasing expenditure demands, the challenges this year look formidable.

A Pre-Budget Panel Discussion-2016 was organized by GITAM Institute of Management on 26^th February, 2016. The chief speaker of the session was Prof. B. Ramakrishna Rao, Retd. Professor, Andhra University. The welcome address was given by Dr. K. Manjusree Naidu, Associate Professor, GITAM Institute of Management. She gave an introductory speech defining budget and also briefly explained about the classification of Union Budget. Prof. K. Siva Rama Krishna, Dean & Principal, GITAM Institute of Management addressed the gathering, giving a brief note on the importance of budget.

Darshan Jain and Ketha Rama Kanth of MBA First year gave a presentation on Employee’s expectations from the budget, based on their survey. A presentation on Pre-Budget Corporate expectations was given by B. Ganesh, MBA First year. Katta Kranti Kumar of MBA First year presented a Pre-Budget survey with respect to the common man.

The Chief speaker of the session Prof. B. Rama Krishna Rao addressed the gathering with regard to Pre-Budget Strategies. He spoke about fiscal consolidation and budget- distributional justice. He highlighted agricultural crisis, industrial crisis, exports crisis and also NPA of banks. He said that increase in growth rate leads to decrease in current account deficit. He also spoke about the petroleum and agricultural subsidies. He stressed on industrial growth rate & FDI and also about corporate growth rate. The session was very interactive. All the faculty members and students of GITAM Institute of Management actively participated in this session. The vote of thanks was proposed by T. Vijay Bhaskar, MBA First year.