Union Budget progressive, transformative: Experts

Chaderghat: A symposium was conducted at RG Kedia College, Marwadi Siksha Samithi, Chaderghat, on the subject of Union Budget 2019-20 on Tuesday. Prof Indrakanth, former Professor, OU and Chair Professor, RBI, was the chief guest and the guest of honor was Dr Venkat Barla, Formerly from ITC.

Prof Dr DVG Krishna, Director of the College, welcomed the gathering and said the slogan of the budget is "Reform, Perform and Transform." The speakers said that the budget was progressive and forward looking and aimed at transforming India into $5 trillion economy. It aims to tax the super rich.

The Income Tax concession given is a welcome measure to boost the economy although the corporate tax is not favored by the business circles. The progressive measure adopted by the government with regard to transforming economy to private sector in railways, in airways and in other investments is a right direction for promoting the economy, they said.

All the speakers welcomed the importance given to agriculture sector through Pradhan Mantri Kisan Samman Nidhi etc. The empowering of MSMEs and encouraging start-ups is welcomed by the speakers. It is useful for empowering the youth.

The successful measure of GST shows the Government's determination to restructure the tax policy. The monetary sector aims to increase the investment and to reduce the business failures. The Rs 70,000 crores infusion into the banking sector may also activate the money circulation and the markets. It is a laudable reform of education through the National Education Policy (NEP) and also attracting the foreign students into Indian universities. Further, the government measures to strengthen the security of the country through strengthening of the defence are welcome.

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