School of Tribal Resource Management, KISS-DU organized a virtual discussion on post-budget analysis of the Union Budget 2022 on 7th February 2022. Professor Satya Narayan Mishra, Dean, KIIT School of Management and Professor Ranjan Kumar Bal, Professor Emeritus, KISS-DU were the resource persons in the webinar. Dr. Snigdharani Panda, Dean, School of Tribal Resource Management, KISS-DU welcomed the resource persons and other participants to the virtual gathering.
Professor Satya Narayan Mishra highlighted the importance of resource allocation in the budget while lauding the increase in tax collection. He appreciated the initiatives of the government to focus on growth by increasing public spending on infrastructure development. He stressed the borrowings made by the central and state governments in the context of the GDP of the country. He opined that the high debt levels would discourage investments in the private sector as issuing bonds to fund capex or borrowings will become expensive. He also pointed out the basic pillars of a good budget and the major thrust areas of the Union Budget 2022 and also gave a comparative study of revenue and capital disbursement of the current year’s budget with previous budgets with regard to different sectors.
Professor Mishra also described the budget as disheartening for the middle-class people of India along with the MSME sector. He believed that corporate and manufacturing companies have very competitive tax rates, and this should help India bloom into an export hub. He also mentioned that implementation of all capital expenditures proposed in the budget statement is vital which will improve direct and indirect job creation. He welcomed the tax levied on profits earned on crypto currencies and the gifting of digital currencies. He explained that the capex will provide better employability with a multiplier effect. Allocation on public health and ‘Tap to every house’ is a welcome move. He also highlighted the government’s focus on early childhood education through Anganwadi. He mentioned that the allocation of funds for early childhood education does not align with the expectation of the scheme.
Speaking at the webinar, Professor Ranjan Kumar Bal, Professor Emeritus, KISS-DU set the context of the discussion by highlighting the importance of resource allocation in the budget while lauding the increase in tax collection. He appreciated the initiatives of the government to focus on growth by increasing public spending on infrastructure.
A question-answer session followed the discussion where the participants asked their queries to the resource persons. Ms. Namaswinee Das, Faculty Member, School of Tribal Resource Management, KISS-DU proposed the vote of thanks.