10:35 A.M. to 10:40 A.M.

- Brief Introduction to the programme

A very good afternoon to our esteemed panel of speakers, faculty members my fellow students and
seniors.
The importance of policy environment for managers can never be understated. After all, whether
policies are geared towards enhancing investment and potential growth or curbing inflation or
smoothening out unevenness in economic cycles, it has implications for managers in every field of
businesses.
The Union Budget is one of the most sought after policy event in any financial year. It gets widely
covered and debated given the impact it is perceived to have on the overall economic environment.
Even though it is primarily about government spending and how that gets funded, it also provides
indications on Government’s reforms intent and expectations. All of these could be extremely relevant
inputs for a managerial business decision making.
Given this background we have amongst us 3 stalwarts across different segments of the economy to
present their insights on the upcoming budget, its relevance and impact on business environment and
economic growth. We are delighted to have with us today.
1. Dr. Surajit Mazumdar – Professor JNU
2. Dr. N R Bhanumurthy, Professor NIPFP
3. Dr. Sunil K. Sinha, Director-Public Finance & Principal Economist, India Ratings &
Research

We would like to invite Dr. Manas Paul sir to please felicitate our guests with a bouquet.

10:40 to 10:45 AM: now, we would like to invite Dr. Manas Paul sir to give a Welcome Address.

<Welcome address>

Thank you Sir,

10:45 A.M. to 11:00 A.M.: WE would now like to invite our Director, Dr. Ashish K. Bhattacharya to
address and declare the event opening

11:00 A.M. to 11:10 A.M. - Dr. Surajit Mazumdar,

We now invite Dr. Surajit Mazumdar, to talk on

 Current economic positioning of India and supposed necessities those should draw
maximum attention regarding expenditure allocations
 How have such necessities fared in attracting actual public spending vis a vis budgetary
allocation?

Dr. Surajit Mazumdar is Professor at Jawaharlal Nehru University, New Delhi. He has done Ph.D. in
Economics from Jawaharlal Nehru University, New Delhi, 2007, M.Phil. In Economics from the
Jawaharlal Nehru University, New Delhi, 1990. And M.A. in Economics from Jawaharlal Nehru
University, New Delhi in 1987 with specialization in Political Economy, Indian Industrialization,
Indian Corporate Sector, Globalization. He has 26 years of teaching experience at multiple renowned
institutions.
He was a member of the team for the research programme on ‘The state, globalisation and industrial
development in India: the political economy of regulation and deregulation’, sanctioned by the
Research Council of Norway under its INDNOR programme. He is also partner in the research
programme are from Ambedkar University, Delhi, Norwegian Institute of International Affairs (NUPI)
and IIM Calcutta.

11:12 A.M. to 11:22 A.M. -Dr. N.R. Bhanumurthy,

We now invite Dr. Bhanumurthy, to talk on

 The journey of fiscal consolidation so far

 Importance of fiscal conservatism and difference between UPA and NDA regimes/philosophy
 And how the interim budget is likely to shape up under the two scenarios
o If NDA comes to power
o If UPA comes to power
Dr. Bhanumurthy Is Professor at National institute of Public Finance and Policy, New Delhi. He has
done Ph.D. in Economics from Institute for Social and Economic Change, Bangalore, India, 2003,
M.Phil. In Economics from the University of Hyderabad, India, 1997. And M.A. in Economics from
the University of Hyderabad (1995), with specialization in Macro Economics, International Money
and Finance and Econometrics, particularly times series methods and its applications.
He has been associated with “institute of economic growth”, Delhi, “United Nations Economic and
Social Commission for Asia and the Pacific (UNESCAP)”, Bangkok and “United Nation
Development programme” regional centre for Asia and pacific region, Colombo.
He has been a visiting fellow at Masion des Sciences d’la Homme, Paris, France, and at McGill
University, Montreal, Canada and has been a consultant to ILO, World Bank and Asian Development
Bank. He has been awarded Mahalanobis Memorial Medal (National)” for the year 2014 by the
Indian Econometric Society.

His research areas include Development economics, Macro-monetary economics, International money
& finance, and Macroeconomic modelling

His current research is India-LINK model: A Macro econometric model for India,
Macro econometric model for Policy simulations, Planning Commission

Currently, he is the Secretary of the Indian Econometric Society and Managing Trustee of Indian
Economic Association Trust for Research and Development.
Please Welcome Dr. N.R. Bhanumurthy.

<Speech>
Thank you very much Sir for those very valuable insights
11:24 A.M. to 11:34 A.M. -Dr. Sunil K Sinha
We now invite Dr. Sunil K. Sinha, to talk on

 The variable that go in the analysis of sovereign ratings

 India’s sovereign rating- its strengths and weaknesses
  Importance of global developments for India’s sovereign ratings
 Fiscal outlook in the interim budget and any perceived changes in the final budget post-
election should there be a Government change.
Dr. Sunil K Sinha is Director-Public Finance & Principal Economist of India Ratings & Research. Dr.
Sunil Sinha has done his Ph.D in economics from Jawaharlal Nehru University, New Delhi and MA
in economics from Punjab University
In a career spanning over 20 years, he has worked on various economic and policy issues relating to
agriculture, industry, public finance and macro economy. He was a lead member of the team that
developed S&P ESG India Index for Indian Companies and had also advised Dubai and Cairo stock
exchanges in developing similar indices. He is a Lead Assessor for the CII Sustainability Award since
2008 and is also a faculty for training new sustainability assessors. Some of the key assignments held
by him in the past include a member of an expert group constituted by Ministry of Defence, GOI to
study ‘Some Specific Issues in Defence Contract’ and member of the committee constituted by
Punjab Government to formulate ‘State level Export Policy.'
Please welcome Dr. Sunil K Sinha
<Speech>
Thank you so very much, Sir, for your valuable insights
.

11:40 A.M. to 12:25 P.M: We have now reached the end of this very informative session. The house
is now open for Questions from the audience to our speakers, please. Please raise your hand to ask a
question. Our volunteers will pass on the mic to you.
<Question and answer session>
Thank you sir for the all your valuable insights.
I would now like to request our Professor Dr.S.K Sinha to offer the Valedictory Address.
<Dr. S.K. Sinha>
Thank you Sir
**As a token of our appreciation we request Professor Dr. ASISH K. BHATTACHARYYA to do the
honor of presenting an IMT G memento to our guest speaker Surajit Mazumdar
Our Professor Manas Pual sir, may I request you to present the IMT G memento to Dr. NR
Bhanumurthy please
May I request our Professor S.K. Sinha to present the IMT G memento to Dr. Sunil K. Sinha
<Token Presentation>
Thank you Dr. ASISH K. BHATTACHARYYA sir, Manas Pual sir and S.K. Sinha
04:40 PM: As we have come to the end of such an informative session, I would once again like to
thank all distinguished members of the dias, faculty members and my dear friends and seniors for
being a part of this Event. I would now like to invite our Speakers to join us for high tea, while I
would request my friends to remain seated.
<After the speakers have been escorted out>
I would like to invite my fellow students and seniors for a high tea just outside the auditorium,
please…