The Union Budget for 2014-15 is not a carbon copy of the earlier UPA Budget. It is not a status quo budget at all. Since it indicates the direction of the movement of policies of Modi Government, it is a break from the past. The sense of commitment is a chief merit of the present budget. This was unanimously expressed by experts in the Panel Discussion on the Union Budget held at the Justice K S Hegde Institute of Management, Nitte on July 25th. The discussion was presided by the Institute Director Dr. K. Sanakran. Tracing the ups and downs in the growth rate of the Indian Economy, Dr. G V Joshi, Former Member of the Karnataka State Planning Board, said that the present Union Budget is intended to create an environment necessary for raising the growth rate to 7 percent per annum by 2016-17.
Emphasis on manufacturing and infrastructure is a right step for raising growth rate and job generation.Economist Dr. N K Thingalaya applauded the decision to constitute Expenditure Management Commission for pruning various public expenditures. Bringing out the need for increasing the financial strength of the public sector banks, he said that the retail investors and the bank staff may have to be encouraged to subscribe to bank shares. Chartered Accountant from Udupi CA Ganesh Y appreciated the intention of the Finance Minister to induce the Aam Aadmi (Common Man)to save more. Agricultural Economist Dr. N S Shetty expressed his appreciation for the Budget’s proposal to constitute a separate fund for irrigation. Prof Radhakrishna Sharma welcomed the intension of the Finance Minister to restrict fiscal deficit. Prof. K Ramesh Karnik liked the proposal of the Government to increase FDI in defense sector. Stating that defense and development are closely related to each other, he argued for raising defense expenditure – GDP Ratio. There was a lively discussion on the gender perspective and the management related aspects of the budget. The discussion was co ordinated by Dr. G V Joshi and Dr. Sudhir Raj K. Student Ashwini Kamath compeered the program.
Emphasis on manufacturing and infrastructure is a right step for raising growth rate and job generation.Economist Dr. N K Thingalaya applauded the decision to constitute Expenditure Management Commission for pruning various public expenditures. Bringing out the need for increasing the financial strength of the public sector banks, he said that the retail investors and the bank staff may have to be encouraged to subscribe to bank shares. Chartered Accountant from Udupi CA Ganesh Y appreciated the intention of the Finance Minister to induce the Aam Aadmi (Common Man)to save more. Agricultural Economist Dr. N S Shetty expressed his appreciation for the Budget’s proposal to constitute a separate fund for irrigation. Prof Radhakrishna Sharma welcomed the intension of the Finance Minister to restrict fiscal deficit. Prof. K Ramesh Karnik liked the proposal of the Government to increase FDI in defense sector. Stating that defense and development are closely related to each other, he argued for raising defense expenditure – GDP Ratio. There was a lively discussion on the gender perspective and the management related aspects of the budget. The discussion was co ordinated by Dr. G V Joshi and Dr. Sudhir Raj K. Student Ashwini Kamath compeered the program.
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