National Symposium

On

Budgetary Outreach: Road to $ 5 trillion Economy

Event: National Symposium

Date: 11th February 2020

Venue: Laxmi Devi Auditorium (JIM Campus)

Faculty Coordinator: CFA Anu Jajoo

Participants: Guests from industry, academia; BBA, Mass comm..

MCA, MBA and PGDM students

Jagran Institute of Management, organized a National Symposium on Union Budget announcements

2020 on Tuesday 11th February 2020. Symposium was themed around Budget Outreach: Road to $

5 trillion Economy“. The objective of this seminar was to engage the experts from the related field in

a pertinent discussion related to budget implication. The symposium provided a platform for

partakers to comprehend the dynamics of the subject.

The event started with lamp lightning followed by welcome address by Dr. J. N. Gupta, CEO, Jagran

Education Foundation. PGDM final year student, Jaya Dwivedi had conducted a survey on ‘Budget

2020: Industry Expectations’. This survey report was presented in the symposium. Pre-lunch session

of the symposium was taken by three keynote speakers: CA Pradeep Goenka, CA Sudhindra Kumar

Jain and Mr. Manoj Agarwal

Mr. Pradeep Goenka is a practicing Chartered Accountant since 1982. His areas of specialization are

Project Finance and Merchant Banking. He has been independent director of listed companies like

Ganesha Ecosphere ltd, Kanpur Plastipack Ltd (1997 to 2016), Frontier Springs Ltd. (2005 to 2016).

Mr. Goenka said that small savings have helped India in toughest times. Small savings are what

mother tells to her child. He said that India has a small savings of 30 to 38 percent. Our tax regime

has instructed us to save for a rainy day. Budget gives us a roadmap regarding industrial

development. He alos shed light on corporate tax and resourcing of funds. He said that the new

budget thrives for setting up of warehouses to improve the efficiency of storing food grain. With the

use of artificial intelligence, there could be loss of jobs for skilled and unskilled workforce. There is a

need to promote self-employment.

Mr. Sudhindra Kumar Jain is a practicing Chartered Accountant since 1981. He has a membership of

various professional bodies such as Kanpur Income Tax Bar association, The institute of internal

auditor -USA, Income tax Appellate tribunal bar association, New Delhi. Mr. Jain spoke on analysis

of Union Budget 2020. He said that in 2014, the budget was of gross 30 Lakh Crore and in 2020 it is

of 27 Lakh Crore. To gain profit, we must be systematic in our approach. He said that the world tells

us that the taxation in India is lowest. Only 4 to 6 percent of the people pay taxes but when budget is

decided, 90 percent of the people debate. He gave an example of JK temple in Kanpur to show how it

was created through the donations of the people in form of ‘dharmata’ collected through sales bill. He

said that there is a need to streamline tax system in India. GST collection has gone to Rs. 1 Lakh

Crore per annum but still as far as inflation is concerned, we are far behind. He said that the definition

of income in budget is inclusive and not exclusive.

Mr. Manoj Agarwal is currently the managing director of Kanpur Plastipack ltd. He has been a

president and founder charter member of TIE UP chapter. He had been a chairman of PLEXCONCIL

(Plastic Export and promotion council) from 2009-2011 and had been a member of Managing

committee of Plastindia Foundation from 2009-2014. Mr. Agarwal spoke on Indian Economy and

Export Dynamics. He said that there has been a transition in India from raw cotton export to technical

textiles. More than 50 percent of the exporters are from small-scale industries. At looking back at the

history, Jaipur remains one of the largest suppliers of precious stones. The rise of British empire had a

negative impact on Indian economy.

In Post-lunch session, Dr. Satish Chandra Ojha, Assistant Professor, STEP-HBTI addressed the

gathering. Dr. Ojha spoke on the stagnation of Indian economy post-independence. Students of

Jagran Institute of Management also shared their work during this session. Dr. Dvya Chowdhry,

Director, Jagran Institute of Management presented the vote of thanks. The symposium, which was

themed around the Union budget announcements 2020, was an expression of the participants’ views

to economic environment of the country. The Union Budget in a large democracy like India has a

widespread impact on numerous areas. Hence, it is imperative to have knowledge and discussion

about what budget announcements stand for and their importance.

Dignitaries attending the session

Audience attending the session

CA Pradeep Goenka addressing the gathering

CA Pradeep Goenka felicitated by Vice Chairperson Ms. Ritu Gupta

CA Sudhindra Kumar Jain being welcome by Director, Dr. Divya Chowdhry

CA Sudhindra Kumar Jain addressing he audience

CA Sudhindra Kumar Jain being felicitated by CEO, Dr. J.N. Gupta

Mr. Manoj Agarwal being felicitated by Vice Chairperson Ms. Ritu Gupta

Dr. Satish Chandra Ojha being welcome by Director, Dr. Divya Chowdhry

Dr. Satish Chandra Ojha being felicitated by Director, Dr. Divya Chowdhry & CFA Anu Jajoo

Director, Dr. Divya Chowdhry & CFA Anu Jajoo presenting certificates to the students

Director, Dr. Divya Chowdhry presenting vote of thanks