Corporate Conclave VI – Budget 2013-14
9th March 2013 Narsee Monjee Institute of Management Studies, Hyderabad conducted the sixth edition of Corporate Conclave, the flagship event of NMIMS Hyderabad on 9th March 2013. The event is a platform between students and the industry to exchange and share their views on diverse topics of contemporary interests. The theme for the sixth edition of Corporate Conclave was “Union Budget 2013-2014 – Revival of Growth”.
The event witnessed eminent speakers from the industry and academics namely Mr. J Ravikumar (CFO, L&T Metro Rail, Hyderabad), Professor S Galab (Director, Center for Economic and Social Studies, AP) and Dr V. Raghunathan (Chief Executive, GMR Varalakshmi Foundation).
Mr. Ravikumar addressed the impact of budget on Infrastructure. He highlighted major issues in the Infrastructure sector such as planned acquisition and environmental challenges, need for coordination between government agencies, reduction of time gaps between bid and commencement of a project. He emphasized the need for an independent regulator.
The second speaker for the day Prof. S Galab, addressed the impact of budget on agriculture. He opined that current budget was well balanced with the right mix of economic logic and good politics. Though agricultural growth has increased, social inequalities have also increased and that remains an important area to be addressed. He was of the view that over the last few years the economy has slowed down due to supply chain factors.
Mr. Raghunathan gave a simple framework for understanding the budget. According to him a single budget cannot make much of a difference. In other countries the policies are shaped consistently over a long term period and therefore a budget pronouncement is not major event like in India. He stressed on the requirement of proper implementation of the budget and governance for increasing the benefits to the common man.
The speakers actively and patiently addressed the Q&A session. The session has surely enriched the student’s knowledge about the budget and its implication on the Indian Economy.