Quorum 1 Meeting on 8th Feb 2015

Topic: Expectations from the Union Budget 2015-16

Attendance: 8 Participants, 5 Finnacle 1st years

Presentation started by Shailesh who gave a highlight on what is a budget, Journey of PM Modi as on
date, current economic situation and the Agenda for the meeting.
Puneet explained some technical terms like Ordinances, FII, European Crisis, CAD, Fiscal Deficit, CPI, WPI
and Shailesh gave his inputs

Question posted- How this budget will contribute to Make in India Campaign?

Infrastructure Reforms
GST- About GST, expectations from it, issues related to why is the bill is held up
Current Taxing system: Service tax goes to state
Effect of GST will be seen after 5-7 years, manufacturing industries will be benefited from GST

Tax Reforms
1.5 to 2 lakhs Disposal income will reduce
MAT
Subsidies- LPG, Agricultural

Areas in which Subsidies are required?

Education is getting costly, Govt colleges

Debate on-- Why Subsidy to any and everything? Poor Country- 64% population in rural areas
Problem is implementation, improper use of money used as subsidies.

End
The meeting went off well. Everybody liked the concept of Quorum. Suggestions were asked for
improvement and topics invited for discussion in the next meeting.