Budget 2013 receives a thumbs up from our faculty and management

March 1, 2013

We asked our faculty and management for their views on the Budget 2013. Here’s what they had to say-On the budget as a whole

This is a big picture budget making the best out of a bad situation, big problems of fiscal consolidations needs to be addressed and has been done in principle. Focus on the overall growth across urban and rural areas is a welcome step and builds confidence. The  direction taken is one of inclusivity. Growth without employment has been hurting India for past few years, FM has introduced welcome measures to improve the skill sets thereby impacting positively on the employability factor . This has been done by providing impetus to skill development institutes , however I am hoping government gives due importance to private players who will play a big role in coming years. ~ Suresh Rao, Faculty


A budget for the country than for serving the political agenda of the ruling party where the  Finance minister P Chidambaram has boldly voted for growth over politics.A rare budget where he has gambled on good economics proving to be good politics too. This is a clear deviation from past budgets where  a finance minister has rejected populist giveaways so decisively in an election year. He has dared to win the next elections not through tax breaks and freebies, but by accelerating GDP growth and taming inflation through fiscal consolidation.This will be delivered through his promise of fiscal prudence (restricting fiscal deficit to 5.2% of GDP this year and 4.8% next year), yet provided for a 29% rise in Plan spending next year by assuming very high tax buoyancy. ~ Jasjeet Kaur, Management


 

Impact on Education

Service tax exemption for vocational education courses will encourage more such institutions to come up and will boost skill development programmes. However , the definition of approved vocational course in section 65B(11) of Finance Act 1994 , should be reviewed to include all service sectors and not limited to Industrial / Manufacturing processes. ~ Harish Thakkar, Faculty 

The 2013 budget seems promising to the overall education sector with an increase of 17% of allocated budget. However, a higher allocation of budget does not necessarily mean education reform. More emphasis is needed on curriculum design and professional skill development. 1000 crore allocation to NSDL is a step in the right direction.~Sonya Hooja, Founder

 

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