Guest Lecture: Key Features of Budget in India
On October 31, 2022, Teerthanker Mahaveer University’s TMIMT College of Management organised a guest lecture for the students of BBA, BBA (IB) and MBA. The main objective of the lecture was to familiarise students with the key features of the Indian budget. The guest speaker at the event was Dr. Satyavrat Singh Rawat, Principal of Hindu College, Moradabad. The programme was initiated in the esteemed presence of Dr. Vipin Jain, Principal, TMIMT College of Management.
Dr. Satyavrat Singh Rawat has more than twenty years of teaching and administrative experience. He told students that there are three main features of an annual budget: First, it is a consolidated financial statement of expected expenditures and various sources of revenue of the government. Second, it relates to a financial year. Third, the expenditure and the sources of revenue are planned in accordance with the declared policy objectives by the government.
He informed students that the Government of India presents the Annual Budget every year in February so that it could be moulded before the commencement of the new financial year in April. The primary purpose of budgeting is to provide control over the revenues and expenditures of the government. The budgets are necessary for maintaining the government’s finances and a mechanism for achieving the financial objective of accountability.
Dr. Vipin Jain, Principal, TMIMT College of Management, said that the budget ensures efficient allocation of resources and it also keeps a check on prices level. The union budget is important as it has a big influence on many sectors. Hence, it is crucial to know what it stands for and its significance. In the end, he thanked Dr Satyavrat Singh for delivering such an insightful session. The programme was coordinated with the help of Dr. Ankit Kumar Baliyan.
TMIMT College of Management trains students in all aspects of life. The college has been rated among the top B-Schools in North India as an outstanding management institute by various organisations. The training & placement cell assists students with national & international placement and internship opportunities. To know more about TMIMT College of Management, Moradabad, please visit- https://www.tmu.ac.in/tmimt-college-of-management