Udyam Karyashala – A day long Workshop on Financial Planning was organized to make the students understand intricacies of Financial aspects of Business World.
IIIM organised a panel discussion on “Post budget Analysis-2018” on February 6th, 2018.
Prof. C.S. Barla, Prof. Laxminarayan Nathuramka, Mr. Dilip Kumar Mohata (Charted Accountant), Ms. Kavita Sharma, Homemaker, were amongst the eminent panelists who presented their views on the recent union budget that was introduced in the parliament.
The session was organised to discuss the pros and cons of the latest budget from diverse perspectives and to acquaint the students with the financial impact of the budget on the micro as well as macro-economic aspects in the country.
Prof. Nathuramaka presented a comprehensive picture of the budget wherein he discussed various economic implications of the budget touching upon all the macro variables. He also focussed on the relevance of understanding the major problems existing in the country such as rural distress, unemployment and twin balance sheet. He shared the role of reality check in budget formulation and implementation.
Mr. Dilip Kumar Mohata (CA) presented minute intricacies of the budget in terms of taxation and financial relaxations to individuals as well as business organisations. He appreciated that the budget focuses on balancing of structural aspects and strengthening the revenue base of the government. He also mentioned the taxation benefits for women and senior citizens.
Ms. Kavita Sharma shared her views in terms of impact of budget on the family expenditure of an individual. She focussed her talk on the domestic and household appliances as well as groceries which are necessary for the healthy upbringing of the kids. She also mentioned the role of perpetual rise in inflation on the specific family needs.
Dr. C.S. Barla emphasised on the application of Performance Budgeting as a necessary ingredient for budget evaluation. He also emphasized that formulation of budget is important but concurrent evaluation of the budget in the course of implementation is equally important. With his concluding views about the budget he acquainted the students with the nitty-gritty of the financial environment and also spoke about the factors which must have been included in the budget to make it a stable budget. He considered the budget to be dedicated to lower and upper sections of the society.