Post Budget Analysis 2010

To provide a comprehensive and in-dept analysis of the union budget, a workshop was organized on "Post Budget Analysis-2010” on 6^th March, 2010, which was led and guided by Shri Vinay Modi, who is Chartered Accountant  by profession and a campus director at WLC. 

Union Budget 2010, a key economic tool was presented by Indian Finance Minister Shri Pranab Mukherjee on 26^th Feb 2010. Shri Vinay Modi commenced the session giving various aspects of union budget 2010. He said that the Indian economy has sustained the economic crisis well, but the main challenge is to make growth inclusive. The focus now is to attain a double-digit GDP growth rate. “The second challenge is to deepen and broaden the agenda for inclusive development”.

Mr Modi said that three new things are of special appeal in union budget, first, the emphasis on growth is put in unambiguous terms, which is both economically and politically right. Secondly, the budget spells out that the county's economic issues are to be addressed by macroeconomic and longer term interventions rather than by ad-hoc measures. Thirdly, the budget displays that the nation can now afford and needs giving attention to higher form intrusion and reforms than it ever did.

The speaker continued saying we were warned that budget 2010 was never going to be a sweet pill to swallow as expectations from the finance minister, as always, are high-people and corporate want more in their pockets. There has been no let-up in the rise of food prices and most middle-class families still have to wait for annual sales to get branded products home.

The session concluded with Mr. Modi saying that this budget lived up to expectations in areas of public policy and dealt harshly with some of the most vulnerable in society. The nation would like to see changes in tax rates, consumables getting cheaper and credit continuing to be available easily.