JIMS ORGANISED AN EXTEMPORE EXPRESSION AND SPECIAL LECTURE ON BUDGET 2009-10
On 9 July 2009, JIMS organized an Extempore and Special Lecture on "Union Budget 2009-10" for PGDM II year students. Extempore competition was a surprise event to which students responded very enthusiastically. The event witnessed students not only explaining the features mentioned in Union budget but they also expressed their opinion on impact of budget on common man.
Extempore was followed by a special lecture on union budget 2009-2010 by honorable professor B.L Pandit, Head of Department, Delhi School of Economics. Prof. Pandit began by saying that budget is not the balancing act between expenditure and revenue , it is about managing the revenues and expenditure optimally. He added never try to balance the budget and let budget balance your economy. He talked about some important aspects of this budget like NREGA Scheme, Fringe Benefit Tax, Goods and Service Tax etc. Taking the discussion further, he talked about the concept of Fiscal Federalism practiced in USA and contemplated on adaptation of certain features in Indian Budget. He explained various ways of revenue generation one of which included a cyclic process of employment generation leading to rise in income which will stimulate demand and hence pump in more money in the economy. Speaking about the lacunae in the system he emphasized on the gap between what is promised and what is delivered. He also deliberated on certain important aspects like market borrowings, personal income tax and deficit financing.
Prof. R.P Maheshwari, Director General JIMS expressed his deep sense of gratitude to prof. B.L Pandit on behalf of JIMS for such an illuminating session on budget. Prof. Maheshwari gave some food for thought to the audience , he asked everyone whether they want inflation with growth or deflation with recession. He also expressed his opinion on Budget 2009-10.
At the end of the session Prof. Madan Mohan, Dean JIMS announced results of extempore competition.