Finesse – The Finance Club of IMNU hosted a webinar on the theme ‘Post Budget Session’ on 10th February 2021. The main objective of this webinar was to enlighten the students regarding the various policies released in the Union Budget 2021 and discuss its implications on the Indian Economy. The session involved eminent speakers such as CA (Dr.) Mihir Gupta, Prof. M. Mallikarjun and Prof. MC Gupta sharing their views on the budget.
CA (Dr.) Mihir Gupta was the first speaker for the event. He started the session by providing his inputs on various new policies of the government falling under different key areas of the Budget such as Digital India, Taxation, Relaxation to Senior Citizens and Vehicle Scrappage Policy. He was of the opinion that there was no major change in the budget.
The next speaker was Prof. Mahesh Gupta. He began the session by highlighting a statement given by our Finance Minister before the budget that it would be A budget like never before. He said that that the markets have reacted favourably to the budget as people were earlier expecting a high tax burden in the name of COVID, but that did not happen. The various other policies discussed by the speaker were 80C Limit, Merging of Railway Budget with Union Budget, Disinvestment of PSUs, FDI in Insurance Sector and Bad Loans of Banks.
The last address was given by Prof. M. Mallikarjun. He began the session by highlighting the process of Budget and stating that it is a serious and lengthy exercise carried out by the Ministry of Finance. He explained that a Budget tells us how the government is going to manage its finances, from where revenue will come from and how will it be spent. He also discussed various other topics such as Fiscal Deficit, V-Shaped Recovery, Declining Share of Corporate Income Tax, Impact of COVID-19 on businesses and agriculture sector. He opined that some minor changes to boost demand in the economy would have worked wonders.
After the speakers ended their address, the platform was left open for questions from the audience. The webinar helped students gain knowledge regarding the subject of Union Budget 2021 and its impact on the future of Indian Economy.