Lucknow: Lucknow Management Association in collaboration with ASSOCHAM and the Department of Economics, University of Lucknow organized a Panel Discussion on Union Budget on 29 July 2024 in the A.P. Sen Hall of the University of Lucknow.
Moderating the discussion Alok Ranjan Former Chief Secretary and Past President LMA lauded the Budget which had articulated the nine-point Vision of Viksit Bharat and various steps the Government proposed to take. He mentioned that low fiscal deficit target of 4.9% and high growth rate of 8.2% which is substantial. He advocated greater focus on growth in agriculture, which is only 1.4%, and more effective measures for reducing unemployment. He said that there needs to be greater focus on R&D also.
Economist Arvind Mohan, Dean Faculty of Arts said more allotments was needed for 2 nd generation reforms, including education, health, rural development and agriculture. Enabling policies in manufacturing are important to increase employment. Kiron Chopra CMD Chopra Retech spoke about serious problems being faced by industries in Europe and the US due to high costs making them unviable. They want to shift to low-cost countries in Asia including India. Govt. needs to do more in improvement in ease of doing business like Vietnam.
Prof Sanjay Singh of IIM Lucknow talked about the problems of investors due to higher borrowing rates. Rajat Mehra Director Rajat Chemicals mentioned about continued gap in skills despite several government prgrammes of skill development.
He lauded the Internship programme which will shift the onus of skill development of one crore youth to large corporations. Jatin Srivastava Chartered Accountant said that the internship programme will benefit the youth from low-income families. A.K. Mathur Sr. Vice President LMA was among the several LMA members present and conducted the proceedings.
