JAIN (Deemed-to-be University) News

Anatomy of Union Budget 2018

The Department of Economics at the School of Humanities, Jain (Deemed-to-be University) organized an Anatomy of the Union Budget 2018 on 3 February 2018. Dr. Muninarayanappa, Professor, Dean and Chairperson of the Department of Commerce, Bangalore University delivered the welcome address in which he said that the SME’s were disrupted due to the effects of GST and demonetization. He also said that main emphasis of the present budget was on the health sector.

Dr.Xavier V K Professor and Head of the Department of Economics at Jain (Deemed-to-be University), in his introductory remark, expressed his concern over the net decline in private investments from 38 percent to 26 percent.

The keynote speaker for the program was Dr. Charan Singh from IIM Bangalore. He calls this budget as the ‘Budget of the Mindful, the helpless (farmers), the voiceless (MSME) and noiseless (senior citizens). He also laid emphasis on recapitalization of banks, setting up of new schools and universities that would lead to skill teaching. He also said that the health sector was the major sector that was targeted during this union budget.

Mr. B. P. Rao a practicing Chartered Accountant from Bangalore emphasized on the tax structure of the budget.

Dr. P.M. Mathew, Professor of Economics, Bangalore made a detailed analysis on the health budget. He spoke about adopting cost effective methods for healthcare.

Dr. Kaiser Ahmed, Professor of Economics, Bangalore University said that this budget 2018 had mixed reactions and opinions. He said that there has been a major shift in the priority of this budget from industrial to heath and agricultural sector.

Prof. Issac P. Elias from Christ University said that this budget was a politically motivated budget. He also mentioned that the middle class are burdened and the salaried class is neglected, however only the super-rich farmers are benefitted by this budget.