Mangaluru: Sahyadri College Hosts Panel Discussion on ‘Union Budget 2016-17’

Mangaluru: Panel Discussion on ‘Union Budget 2016-17’ was organized by Sahyadri College of Engineering & Management in collaboration with Kanara Chamber of Commerce & Industry at Sahyadri Campus here, on March 1.

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Professor of Economics, Justice K S Hegde Institute of Management, Prof G V Joshi, President, Rammohan Pai, Kanara Chamber of Commerce & Industry, Maroor, Regional Training Manager-South, HDFC Bank Ltd Bangalore, Mahesh Chandra Alva, Team Leader, Oracle Financial Services, Agnish A & Chartered Accountant, Kiran Vasanth were the resource persons.

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Director Department of Business Administration, Sahyadri College of Engineering & Management, Dr A P Achar welcomed the gathering and shared the relevance of conducting events of this nature that made students aware of the tax regime which affected their day-to-day life.

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Mahesh Chandra Alva in his Overview of Union Budget 2016-17 acclaimed that this was one of the best budgets so far as the government has looked at the macro angle and we could foresee Indian economy growing at a faster pace. “This budget will give impetus for a better growth,” he said.

Rammohan Pai, in his talk regarding Public Expenditure highlighted the nine pillars outlined by Arun Jaitley the Finance Minister of Indian. He also stated that the rich, middle class and the poor have equally benefitted from this budget.

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Agnish A, in his speech regarding stock market mentioned that this budget was a ‘Robin Hood Budget’ – which pulled money from the luxury class and would invest in the rural class. This budget shall attract FDI’s for agriculture sector.

Kiran Vasanth, talking on Public Revenue emphasized that the scenario was not good globally and most of the countries were losing, however India was comparatively still better. He highlighted certain cosmetic changes made in the Tax Structure and acclaimed that the reforms brought about in the budget that shall inculcate the saving habits amongst the youngsters. He was of the opinion that Tax disputes will be settled more quickly and corrupt practices will be majorly reduced. He concluded by saying, “This budget has injected us with the right spirit.”

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Prof GV Joshi moderated the panel discussion and during the course of the question and answer session he highlighted that Manufacturing sector should grow which would create jobs for youth in other sectors as well. He concluded by saying, “No single central budget can meet expectations of everyone and we cannot expect a miracle, but we should be realistic.”

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