The third edition of a lecture series under the banner of "Udbodhan" was organized at the college campus of JECRC University in Jaipur on March 10, 2017. The theme for this series was “Mirage of Plenty: Government Finances in India.”
The event was conducted under the expert aegis of Mr. Shantanu Basu, Additional Secretary of Finance Ministry of Government of India. During this session, President Prof. D.P Mishra, Registrar Dr. S.L. Agrawal, Deans and HODs were also present.
While addressing the students and teachers, Basu said, “there is an intimate relation between various ideologies of different political parties and fund distribution of Budget.”
He further added that an important role is played by some of the pressure groups as well.
He explained three major categories of Budget which include:
- Contingency Fund
- Consolidated Fund
- Public Account
He also added that as indebt of Consolidated fund raises, the Government gets rid of it by taking money from Public Account. This is a risky thing and becomes dangerous later.
He explained to the participants about decreasing value of Indian currency through Deficit and Inflation. He said, in 2007-08, Government was spending approximately Rs. 2 per person per day for Social and Community fund.
Convener Dr. Sachin Gupta gave the Vote of Thanks at the end of this session.