Webinar on Economic Survey 2021 and Union Budget 2021
The sessions were conducted on 1st Feb 2021 and 6th Feb 2021 Sessions were conducted on Google Meet platform and youtube live platforms. This is done to accommodate the full strength of the college at one time.
The following are key points discussed in the sessions:
The budget 2021 was disruptive in many ways.
-The first and foremost feature being tax stability and hardly any changes in tax rates
-Corporate Tax Reduction was already done in 2019
-Boost to infrastructure in general is a welcome move and the government is planning to give the infrastructure sector a meaningful boost in the long run
-Use of Data Analytics and Artificial intelligence in GSTN is again a disruptive move. It will boost compliance.
-Without giving much attention to global credit rating agencies, Indian Government projected fiscal deficit at 9.5% of the GDP, and gradually bringing it down to 6.5% by 2025.
-Railway sector was highlighted in the Budget. It is a welcome move to boost Capex in railways and put forward metro rail projects in Tier 1 and Tier 2.
– Gig workers recognition is important and it will have long term repercussions on employees and pattern of employment in the organized sector.
– Disinvestment target is conservative
– PLI scheme for number of sectors, particularly Electronics manufacturing
– Boost to healthcare sector and healthcare infra
– Labour Codes implementation
The students got an overall understanding of how the economic survey is prepared and what
major aspects are discussed in the Economic Survey. Also, How the budget is prepared and the procedure of Budget. Students understood major aspects of the Union budget 2021.
The session lasted 45 mins each. The understanding of these broad aspects of economy will help the students in Group Discussions, Interviews and also many academic and non-academic domains.