The Union Budget 2018 has struck a delicate balance between economic prudence and populism with a number play between the figures of investments and expenditures. Though some of the announcements deserve appreciation and are expected to address the concerns of rural poor, yet less than expected for the salaried class was disappointing. This is how the budget was summarised at Gujranwala Guru Nanak Institute of Management and Technology (GGNIMT), Ghumar Mandi after a live Presentation and panel discussion on Union Budget 2018 for the students of BBA, B.Com.and MBA.
Students raised queries related to outlays on industrial development, agriculture, taxation and other perspectives. There was an open house to enable free and frank discussions on politics and economics of the Union Budget 2018.As part of pre-budget activity, students presented power point presentations related to the History of Union Budget, Finding of Economic Survey and the Wish list of Different Sectors from this Budget. Harkanwal Kaur, MBA-4 presented the key facts related to Union Budget. She Highlighted the economic reforms initiated in the “Dream Budget 1991” changing traditions related to presentation of union budget on the first day of February is from 2017 and the railway budget being clubbed with the union budget after breaking a 92 years old practices. Pallavi Kalra and Palak, delivered a power point presentation on Economic Survey 2017-2018 and its impact on the Budget. Manpreet shared the Wish List of Different Sectors, laying the framework against which the Budget to be announced should be evaluated.
This was followed by the live telecast of presentation of Union budget 2018 by Finance Minister Arun Jaitley. Students followed the Budget and raised their questions, which were answered by an expert Panel comprising of Dr. Harpreet Singh, Principal, GGNIMT, Prof. Parvinder Singh Head Department of Business Management and Prof. Harminder Kaur, Senior Faculty, Dept. of Business Management,. They outlined various schemes such PM MUDRA yojana, surakasha bina yojna , Jandhan yojana , scheme for air pollution , e- Mandi, GRAM, Minimum support price and huge amount of funds has been allocated to support agricultural , insurance and irrigations. They appreciated that the budget is packed with policies and funds to boost the agriculture which is likely to increase incomes for the rural Indians. In addition outlays on infrastructure would result in large number of jobs.Panel members exhorted that if the mentioned provisions were implemented at the grassroot level , they are bound to benefit the micro as well as macro economy.
Prof. Manjit Singh Chhabra, Director, GGNIMT appreciated the efforts put in by the Department in organizing the event and He also advised the students to develop an analytical approach to the policy announcements made by govt. for availing the opportunities.