GUWAHATI- A Post Budget discussion on Union Budget 2021-22 was organised on 9 February, 2021, at Royal Global University (RGU) by Royal School of Business in association with Department of Economics (Royal School of Humanities & Social Sciences) for undergraduate and post graduate students of Business, Economics, Political Science, Public Administration and Law.
The invited speakers were Prof. M.P. Bezbaruah, Department of Economics, Gauhati University, Dr. Gautam Mazumdar, Associate Professor, Economics Department, Cotton University and Mr. R. S. Joshi, Former President, FINER. The program was also attended by Prof. S. P. Singh, Vice Chancellor, Royal Global University, Prof. Manoj Jain, Dy. Dean, Royal School of Business and Prof. Swabera Islam, Head, Department of Economics, (Royal School of Humanities & Social Sciences) also joined the program along with other faculty.
During the deliberation, Dr. Gautam Mazumdar described the Union budget 2021-22 as an transformational and bold budget. He explained concept of the six pillars of Union Budget as mentioned by Honourable Finance Minister. Mr. R. S. Joshi spoke about how well the industry accepted the budget and its positive impact on the capital market since the date of budget.
Prof. Bezbaruah spoke on the recapitalisation and privatisation of banks. He also explained the importance and contribution of the informal sector, particularly migrant workers, towards the Indian economy and mentioned how the present budget incorporated the unorganised sector. Through his deliberation, he pointed out that Labour Laws require reforms for uplifting the unorganised sector but in a very systematic manner. Finally, Prof. Bezbaruah emphasised on the understanding of the concept “Atmanirbhar Bharat” specifying the need of revival of multilateral agreements for realising the true meaning of self-reliance. All the speakers expressed their concerns about the right implementation of the budget and geo-political impact on the same.
Followed by the deliberation, the house was open for interaction with the students where the speakers were asked about migrant workers, New Education Policy budget allocation, concerns of digital divide among students, agriculture farm produce, Farm Bill and exemptions required or not for small business owner for COVID19 pandemic. The two-hour long program was extremely insightful and thought-provoking for students and faculty of Royal Global University who attended the program.