Expert Talk by Mr. Chandrashekhar Tilak on Budget 2020 at Kaveri College

Kannada Sangha Pune’s Kaveri College of Arts, Science and Commerce arranged an engaging session of Mr. Chandrashekhar Tilak, Executive Vice President, National Securities and Depository e-Governance Infrastructure Ltd. on the topic ‘Budget 2020’on 8^th February 2020.

Dr. Ashok Agrawal Principal and Vice-Principal Dr.Muckta Karmarkar welcomed Mr. Tilak. He was felicitated at the hands of Mr. Kushal Hegde, President, Kannada Sangha, Pune. 

During his talk, Mr. Tilak mentioned that Budget 2020-21 is all about strengthening Indian Economy. From heralding into a new democratic tax regime to bringing in more sectors under the purview of service sector to widening the contour of new economy, Mr. Tilak seemed very positive about the prospects of Indian Economy. He emphasized, citing example of IRCTC, that the sector which is age-neutral, gender-neutral, non-possibility of NPA and technologically sustainable is the contributor to economic prosperity.

He informed that interest bearing securities except Government securities will be slowly phased out in due course of time. The introduction of government owned companies’ IPOs is a way to reduce fiscal deficit. He added that our economy has not experienced any U turn since the time of reforms in 1990’s. Consistent efforts of policy makers are keeping our country economically safe. He mentioned conventional source of revenue generation is passé and the Government is more in favour of bringing in non-conventional ways for revenue generation. As service sector contributes 58% to the GDP of India, we should pay more attention to this sector. Dividend should be ploughed back. The disinvestments of IRCTC and now proposed disinvestment in LIC would lead to a stock split. This would result in creation of more shares and ultimately increase possibility of more dividend and bonus shares. He mentioned that after the success of IRCTC, LIC has high probability of success in IPO. He predicted that there would be more disinvestment of many high profit and employment generating organizations like Indian Postal Payments Bank. He emphasized that the focus would be more on promotion of horticulture rather than agriculture. He further added that the Self Help Groups (SHGs) can play a vital role in revenue generation. He cited examples of success stories of SHGs in Chattisgarh and Karnataka. Another area which is by far unorganized yet has the revenue-generation potential is that of waterways.

While elaborating on the changing contour of New Economy, he mentioned that there is a shift from ‘Game of Margin’ to ‘Game of Volume’. There should focus on service sector which is thought-oriented and knowledge-based. During the question-answer session, participants asked several questions pertaining to India becoming 5^th largest economy, allocation of funds to education sector etc.

Students of the college interviewed Mr. Tilak on this occasion in order to get the information about the fiscal policy, the relevance of FRBM Act in the context of Government often missing out on the targets, procedure of calculation of fiscal deficit to GDP, quantum technology, dividend distribution tax, viability to have only indirect tax imposition etc.

The talk of Mr. Tilak received a thumping response from audience from all walks of life including, students, parents and senior citizens.