On Saturday, 25 February, under the guidance of eminent economist, Director, Professor, (Dr) R. K. Singh, the Department of Economics and Finance of International School of Management, Patna organised a Panel Discussion on Budget 2023 on the topic “Macroeconomic Aspects of Union Budget 2023-24.” The Panellists consisted of corporate leaders and academician Mr. Rajesh Kumar Singh, Channel Manager ICICI, Prudential Asset Management Company Ltd., Mr. C A Mukul, Financial Advisor, Tax Expert and a Certified Chartered Accounted and Dr. Sumit Prasad, Assistant Professor Vanijya Mahavidyalaya, Patna University. More than 300 students the institute got a golden opportunity to learn from this knowledgeable panel of experts and engage in a lively discussion about the latest developments in the economy.
The Panellists discussed incapsulated various aspects of the budget. They talked about implied meaning of increased capital expenditure by 33% to Rs 10 lakhs crore and its potential to bring a good multiplier effect on the economy; forecasted projection on GDP growth within a range of 10.5% to 11%; and special focus on the manufacturing sector with green strategy. The panel ultimately found this budget a balanced one focusing on smaller projects like affordable housing finance, and at the same time facilitating initiatives like last-mile connectivity and increased spending on rural agricultural storage facilities, thus improving the supply chain to all parts of India.
After the discussion, to ensure the active participation of the students, group discussion and quiz based on the discussion were conducted by Assistant Professors, Mr. Rahul Kumar and Mr. Abhishek Pandey. More than 50 students 25 each participated in these events. Both these interactive and inquisitive sessions were found to be centred around highlights of the Budget like State of Economy 2022-23, Budget of Amrit Kaal, seven sectors of priorities (Saptarishi), Net Zero Pledge, National Green Hydrogen Mission, Eklavya Model Residential School, New Income Tax Regime, GOBARdhan Scheme etc.
In the valedictory address of the session, Domain Leader of the Department of Economics and Finance, Ms Shilpi Kavita said that the session was intended to encourage students to develop their analytical and critical thinking skills as they would learn about the impact of the budget on different aspects of the economy. By adopting an interactional method of teaching, it was an effort of our team to get students acquainted with the use of the concepts of macroeconomics in decoding budgetary system of India and make them aware of the socio-economic environment dependent on budgetary allocation of the nation.”
Earlier in the inaugural session all the resource persons were warmly welcome and felicitated by Director Sir, Domain Leader of the Department of Economics and Finance and other faculty members of the department, Mr. Rahul Kumar Sinha, Mr. Abhishek Pandey and Dr Md. Ghulam Murtaza.
