Panel discussion held on Union budget
A panel discussion on Union budget was organised at the Department of economics, School of Business (SOB) of University of Petroleum and Energy Studies (UPES) on Tuesday.
In the deliberation the Senior Vice President and chief Economist, Axis bank, Saugata Bhattacharya said “The major concern of this year’s budget is the large fiscal deficit, which might crowd out private investment for the time being through an increase in the interest rate. Though there is a slippage in the fiscal consolidation front, the budget is expected to act as a catalyst for the economic growth of the country.”
Noted Chartered Accountant (CA), Virendra Kalra was of the opinion that the budget has not slipped heavily on the fiscal deficit keeping in view that this is the last budget of the ruling government before the elections. “The most important takeaway is the thought of ease of living for the citizens that has been introduced in this budget” he said while rating it as a ‘Good’ Budget.
The head of economics department (SOB) Anshuman Gupta moderated the panel discussions that were attended by a large audience.
The panel discussion concluded with all the panelists agreeing that the ‘Union Budget 2018’ was a realistic and forward-looking budget. The panelists also agreed that the Budget was an inclusive one that has something meaningful for all the sections of the economy even though the thrust was on the rural economy and the farm sector.
The UPES media affairs director Arun Dhand said that the Union Budget, as a statement of the estimated receipts and expenditure of the government, is a much-awaited annual fiscal statement of the government through which the government implements its plans and programmes for that particular year.
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