The PG Department of Commerce organized Live Screening of the Union Budget 2023 on 1st February 2023. The main objective of the session was to provide insights and understanding about Government Spendings and Income for the Financial year 2023-24. Ms. Edrea Picardo, Teacher Incharge in Commerce welcomed the students and gave a brief overview of the importance of the session.
The live screening was projected in the classroom and commenced at 11a.m. The Finance Minister of India, Nirmala Sitharaman presented the budget for the Financial year 2023-24. The main vision of the budget was focused on creating opportunities for citizens with focus on the youth, growth and employment and a strong and stable economic environment which was proposed under seven main priorities which were: inclusive development, reaching the last mile, youth power, financial sector, green growth, unleashing the potential, infrastructure and investment under the goals of Amrit Kaal.
She proposed various schemes and incentives for agriculture, healthcare, research and education, National Digital Library for adolescents, highest ever outlay of capital for Indian Railways, better transport infrastructure, AI in India, E-Courts, R&D grants for Lab grown Diamonds, Focus on Green Growth, boosting tourism, 50 year interest free loans to states. Under Taxation, customs duty was changed for various goods, faster return processing and increase in Exemption limit to Rs. 3 lakhs and rebate limit to 7 lakhs was declared. The budget was presented to the Lok Sabha and the presentation concluded at 12.30pm.
The session was very informative and helped the students in understanding the various aspects and goals of the Indian Government for the Financial year 2023-24. To conclude the budget presentation, the students were asked to share their views on the Union Budget. Students from M.Com Part-I and Part-II, namely, Ms. Neebha Ghodge, Mr. Frazer Menezes, Mr. Harshad Naik, Ms. Resha Hodavadekar, Mr. Prabhu Raghunath and Ms. Shruti Pai Khot participated actively. A total of 52 M.Com students attended the session.
