Budget forward-looking, aims at $5 trillion economy

Hyderabad: A symposium on Union Budget 2020-21 was conducted at RG Kedia College, Chaderghat, on Tuesday.

Speakers observed that the Budget is progressive and forward-looking and aimed at transforming India into a $5 trillion economy. The Income Tax concessions are welcome measures to boost the economy. They also felt that the progressive measures adopted by the government with regard to transforming economy through divestments in BPCL, LIC, Air India etc. are in the right direction for promoting the economy. All the speakers welcomed the importance given to agriculture. The empowering of micro, small and medium enterprises (MSMEs) and encouraging start-ups was widely welcomed as it would empower youth and generate employment. The budget would also contain inflation by increasing productivity and investment.

Prof Dr DVG Krishna, Director, MSS, welcomed the gathering and initiated the proceedings. Prof J Manohar Rao, University of Hyderabad, discussed at length sectoral allocations and priority given to agricultural sector and irrigation. Prof R Nageswara Rao, Director, IQAC & Head, Department of Business Management, Osmania University, insisted human management should be given top priority for the development of the country. Prof S Indrakanth, former Professor, OU, and Chair Professor, RBI, stated about economic stability. P Damodar, Superintendent, Central Taxes, stated that effective monetary management is essential for containing inflation. Basudev Dutta, Asst. Commissioner, Central Excise and Service Tax, and Anil Kumar, CFO & Head, HR and Legal, Innovare Labs Pvt Ltd., were the other panelists.

There was interaction between speakers and the participants and all appreciated Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, and the budgetary proposals.

The meeting was attended by a large number of students, staff members and guests from Osmania University, educational institutions, banks and representatives from print and electronic media.