01 Feb 2019|Mumbai | Amity University Mumbai Campus

Session On Live Budget Transmission and Decoding

Live Budget Transmission & Decoding, 01 Feb 2k19, 1130hrs, Moot Court: Amity Business School organised a Live Budget Transmission & Decoding Session for the business students of Amity University Mumbai with a thought process to teach a comprehension of various wellsprings of government income and government expenditure and to pull them to utilize their insight and data from a scope of media sources to talk about current financial issues and present an educated view.

Session started by anticipating the live session at the Moot Court where in absence of Finance Minister Arun Jaitley, Interim Finance Minister Piyush Goyal presented the Interim Budget 2019 in Parliament on Friday. A portion of the featured recommendations included full rebate for income up to Rs 5 lakh, hike in standard deduction to Rs 50,000 from Rs 40,000, Income support scheme for farmers - Rs 6,000/year direct transfer cash to small farmers, Mega pension scheme for the unorganised sector - for assured monthly pension of Rs 3,000, hike in Defence budget to over Rs 3 lakh crore, tax free gratuity increased to 20 lakh, 6 Cr LPG connections to be delivered under Ujjawala scheme, gratuity limit increased to 30 lakh. He further added that we have broken the waistline inflation and average inflation in our tenure is 4.6 percent.

Finance Minister Piyush Goyal likewise underlined “the ten most vital dimensions that will control the central government's Vision 2030.” He said that the priority of the government will be to build next-generation infrastructure, both physical as well as social, for a 10 trillion dollar economy and to provide `ease of living’. Talking about Digital India, he said that the move will create job opportunities in the country. Listing clean and renewable energy as another important focus area of the government, Goyal said: “An India that drives electric vehicles, with renewables becoming major source of energy, will bring down import dependence and increasing energy security for our people". He mentioned expanding of rural industrialisation by using modern industrial technologies, based on Make in India approach, using grassroot MSMEs and start-ups across the country. He listed cleaning of rivers in order to provide with safe drinking water to all Indians and sustaining and nourishing life using micro-irrigation techniques. He also said that long coastline can be pivotal for the economy, using strength of blue economy and Sagar Mala. Highlighting that the government will have high focus on the outer space programmes, Goyal mentioned the Gaganyan project that aims to send Indian astronaut into space in an indigenously made space shuttle. “India is becoming launchpad of the world and placing an Indian astronaut in space by 2022 is a priority," Goyal added. He also listed self-sufficiency in food and improving agricultural productivity with emphasis on organic food as an important dimension and added that healthy India, with distress-free and comprehensive wellness system for all as the ninth dimension of government’s vision for 2030. At last he listed the concept of Minimum Government, Maximum Governance with proactive, responsible and friendly bureaucracy, electronic governance.

Prime Minister Narendra Modi depicted the interim budget as great. He said that more than 30 million middle class taxpayers and 30-40 crore workers will get immediate benefits from this budget. The Prime Minister additionally said that the plans of our legislature have had a constructive outcome on the lives of each individual in the nation.

Towards the end, the session effectively inculcated business literacy and citizen engagement amongst business students, facilitated learning for budget 2019 & analyses of its impact on different sectors and finally encouraged better retention of the learning objectives and target.