XIMB conducts its Annual Budget Conclave, 2021

XIMB conducts its Annual Budget Conclave, 2021

Xavier Institute of Management, Bhubaneswar (XIMB) is one of the premier Business Schools in India, with a rich legacy of over 30 years. Since its inception in 1987, XIMB has been known for its academic rigor and for promoting the holistic development of students.

Inheriting the legacy of XIMB, Xavier University, Bhubaneswar came into existence in 2013 to spread its mission of inspiring the future generation of students aspiring for excellent quality higher education. XIMB has been the frontrunner in imparting comprehensive management education to leaders of tomorrow

On February 6th, X-FIN- The Finance Association of XIMB conducted its Annual Budget Conclave in collaboration with the World Trade Centre, Bhubaneswar. The event was immensely successful due to esteemed panelists and informative discussions moderated by our revered faculty- Mr. S.K Padhi, Associate Dean-Executive Education, XIMB.

The conclave's goal was to gain perspective on how the 6th Union Budget presented by finance minister Nirmala Sitaraman- has impacted and may impact the various aspects of the Indian economy and its stakeholders.

Mr. A.K Sabat, Partner, A K Sabat & Co; Prof (Dr) Satyanarayan Mishra,(IES Retd), Dean, KIIT School of Management; Mr. Srimanta Panda, DGM(Finance), NALCO and Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India were the esteemed speakers for the occasion.

The session began with Prof. SK Padhi giving the students an introduction to the 6th Union Budget and how rapidly it has impacted many areas of our daily lives, followed by welcoming the panelists for the conclave.

Mr. Soumya Kanti Ghosh served as the first speaker for the day. He began his talk with the notion that this year's budget was the "CSR" budget. He spoke about how this budget will lead to the government's off-balance sheet activities come into the headlines and get cleaned up even further. With much factual information and insights about the finance and banking sector in India, Mr. Ghosh's talk was highly educational for our audience.

The second speaker of the day was Mr. A.K Sabat. He began his speech by analyzing how the pandemic has affected the Indian economy and what the government had done to tackle it before even the Union Budget was thought for. He also spoke about the taxation structure changes and the importance of constant criticism- be it the private sector or the government.

The third speaker to grace us was Mr. Satyanarayan Mishra. He started by questioning out the various outlets this budget serves – defense, health, or social growth. He noted that this budget was employment-oriented and that the government, by increasing capital expenditure, has thought this budget through a lot. Obviously fascinated with the budget, "This is a government that really cares for people.", he noted.

Our final panelist of the day was Mr. Srimanta Panda. He termed this budget as the "Big Bonanza Budget." He explained the nitti-gritties of the union budget and how the stock market reflects that. He then moved on to point out the various sectors that this budget gives importance to and even the ones that haven't been paid much attention.

Following that, the students of XIMB engaged in an invigorating Q-A session with the panelists. An ending note followed this by our Professor – S.K Padhi and the proposition of a vote of thanks for such an immensely successful event.

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