Grant Thornton Webinar OnUnion Budget 2020 Analysis
The Grant Thornton Webinar on ‘Union Budget 2020 Analysis’ was organized by Department of Management at I.T.S Ghaziabad on 01..2.2020.The webinar was attended by PGDM First Year students along with faculty members. lThe discussants were Mr. Rian Thingna, Mr. Krishna Arora and Dr. Rajat Kathuria, with Mr. Vikas Vasal acting as the moderator. Some of the highlights of the discussion are as follows:
1. The budget mainly focused on the MSME’s and the start-ups. The government focused on increasing the entrepreneurship skills in our country. There have been major changes in the MSME sector. It is one of the sectors which is gaining in importance and the government is also focusing more on this sector as it will help in increasing the investment opportunities and the FDI. The biggest challenge for MSME’s is proper infrastructure. The policies of government will help in improving the MSME sector.
2. Improvement in the policies of Direct Taxes-
The new tax slabs are as follows:
Upto 5 lakh
Between 5 lakh – 7.5 lakh
Between 7.5 lakh – 10 lakh
Between 10 lakh – 12 lakh
Between 12.5lakh – 15 lakh
Above 15 lakh
The budget focussed on improving the personal tax regime, the main purpose of which was to increase the collection of direct taxes. The tax rates for the individuals have been reduced. 70 out of 100 tax concessions have been streamlined.
3. ESOP Taxation- Additional conditions have been imposed on the taxation of ESOP’s. Budget 2020 has proposed to defer tax deducted at source (TDS) or tax payment on income earned from Employee Stock Option Plans (ESOPs) given to employees of start-ups. This means that employees of start-ups who are exercising their ESOPs may have to pay tax at a later date. This will help in addressing the problem of cash flows of the individuals.
4. Residency Rules- There have not been much changes made under the residency rules. The rule says that the person residing in India will be deemed to be a resident of India if the individual does not pay taxes in the country in which he/she is residing. Unnecessary litigations have been removed under the residency rules. The main area where the government needs to focus here is towards the mobile population who move from one country to another for a shorter duration of time.
5. Abolition of DDT- The purpose of dividend distribution tax was to ensure more efficient collection of taxes. The tax on dividends given to individuals was given by the company and not by the individuals. The total collection of taxes improved. But the problem which aroused here was that if any individual receives taxes of amount more than Rs. 10,00,000, then the tax have to be paid by the individual. This created the problem of double taxation for the individuals. So the abolition of DDT will help the dividend recipients and the tax payers. But this will create a problem for the LLP’s. The other benefit which it will provide is to the small tax payers. Disputes of tax credit will also be reduced.
6. Nominal GDP targeted at 10%- The budget targeted to make the nominal GDP froth rate at 10% by the next year. But this is wholly dependent on the real growth rate of GDP. If the real GDP grows at the rate of 6%, Inflation is growing at the rate of 3.5%-4% and if there is more money in the hands of the public, then only this target of nominal GDP can be achieved.
7. Fiscal Deficit @ 3.8%- The other main area of discussion was the fiscal deficit. The government raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage. This will breach the fiscal deficit target of 3%.
8. The budget focused mainly on the agricultural sector as more than 50% of the population of our country is dependent on agriculture. The topic of discussion was that whether the budget allocation will support all the sectors or only limited sectors.
According to the panel agricultural sector is the main sector for majority of the population of our country. If this sector grows by 1%, GDP grows by more than 1%. Improvements in the agricultural sector will help in increasing the rural demand which will ultimately lead to the development of our economy. Therefore, though the budget mainly focuses on the agricultural sector but still the other sectors will also improve and grow.
9. Reverse trend in the stock market- Despite of an effective budget, the stock market showed a decline after the budget was presented. The government should focus on making India a place for the production of goods and services instead of increasing the tariffs.
10. GST- Though the GST was not considered to be a beneficial policy but still the government is positive about the drawbacks. The government has made several changes in the filing of GST. Now the GST can be filed manually by the individuals.
11. Is India ready to introduce universal income scheme?- The panel members said that India is still not ready to introduce universal income scheme as several changes have still to be made before introducing this scheme. Threshold level of incomes of different individuals has to be given. Moreover, we are still not able to produce productive jobs for the people of our country.
12. E- appeals- Now the individuals can file for e- appeals. Appeals making process have been revised upwards. The purpose of this is to reduce the level of disputes.
Concluding the whole budget, the panel members considered it to be a positive budget as major sectors such as – agriculture, education, rural development and logistics were given moreimportance and focus. There have been reduction in compliances and the government has tried cutting down the litigation process.
The students found the discussion highly informative. At the conclusion of the webinar, Director Management Dr Vidya Sekhri interacted with the students on salient issues arising from this year’s budget., , ,
Finvest Club Organized Activity on 6th February, 2020 ON “Union Budget Analysis 2020”
Finvest Club of Department of Management at I.T.S – Mohan Nagar, Ghaziabad organized an activity on “UNION BUDGET ANALYSIS 2020”.
The activity started with the motivational speech of Dr. Vidya Sekhri, Director Management in her address she talked about that how much the knowledge of budget is important for an individual, changes in the new budget as compared to previous budget.
For this activity teams from both the programs i.e. PGDM & MBA were nominated. Total 11 teams were there and each team had to give the presentation on a sector i.e. infrastructure, education , banking and financial sector, tourism, startup & entrepreneurship, defence, aviation, agriculture, health, manufacturing etc. which is given to them by the club and the team consist of minimum 2 and maximum 4 members. The time allocated to each team is 10 minutes (8 min. for presentation & 2 min. for Q&A). At last the overview of the budget is given by the club members of both the programs.
At the end of the activity students were awarded for their performance with the prizes and certificates in which 3 teams would get the prize and certificate and other 8 teams would get the certificates only.
The prize winners at first position are from PGDM, Mr. Rishabh Kumar, Aditya Tripathi, Ratnesh Asthana, Second position hold by MBA students Aabha jyoti, Ananya, Shivani and third position by again PGDM students Nikita Sarkar, Shashank, Raunak Sawariya., , ,
I.T.S Utkrisht Marketing Awards 2020
Department of Management at I.T.S Mohan Nagar, Ghaziabad organized its 4th edition of I.T.S Utkrisht Marketing Awards on Saturday, 1st February, 2020.
The much awaited event marked its beginning with the auspicious lamp lighting in the benign presence of Shri Arpit Chadha, Vice Chairman, I.T.S - The Education Group, Chief Guest, Shri Pankaj Singh, Member of Legislative Assembly, Noida (U.P.), Distinguished Guest, Prof. (Dr.) S. K. Kak, Ex Vice Chancellor, CCS University, Meerut & Mahamaya Technical University, Noida and - Shri Barat Anand, CTO, Ministry of Home Affairs, Government of India.
Welcome address was presented by Dr. Vidya Sekhri, Director (Management) and programme overview was given by Prof. Durba Roy, event Convener.
Top marketing achievers from reputed business organizations including Indogulf, Trident Technology, Greenlam, Career Launcher, B&R, DCM Shriram, Agarwal Homez, R K Marble, Triveni Polychem, OCS and many more received the Awards under 14 categories in recognition of excellence in Marketing by Shri Arpit Chadha and Shri Pankaj Singh.
Shri.Pankaj Singh shared his words of wisdom and expressed his confidence on the award winning organizations for their role and contribution in making India a $5 trillion economy in the years to come.
Shri Arpit Chadha emphasized on creating a corporate culture for innovation and creativity to flourish.
Prof. S. K. Kak and Shri Bharat Anand congratulated organizations for their award winning contributions to the economy and society at a large.
There were presentations by the award winners related to their exciting journey of excellence and achievements. Award ceremony was graced by Shri Surinder Sood, Director (PR) and Dr. Sunil Kumar Pandey, Director (IT) and witnessed encouraging participation from delegates from corporate and media.
The award ceremony was very well co-ordinated by Dr. V N Bajpai, Chairperson (PGDM).
The support and trust bestowed on us by the Companies was evident through their participation and nominations under various categories of Awards., , ,
Faculty attended Budget Viewing Session at PHDCCI, New Delhi
Dr. Rajeev Johari attended the session on budget overview 2020-21 called by PHDCCI at their premises, where distinguished scholars and business stalwartsdelivered their expert opinion on the subjectfollowed by collective viewing of the budget telecast and discussions on it.
Mr. D. K Aggarwal, President, PHD Chamber gave his welcome remarks focusing on health sector of economy as well as on tax reforms as the need of the current economy of the country. There were varied experts from taxation, academia, think tank, industries, media and banking sector who interacted over the opening remarks.
Mr. Gopal Krishna Agarwal National spokesperson of BJP expressed that to reach the summit of economy, we need to focus on investing for asset and make our country an export hub by focusing on every district and the product characterizing it.He specifically mentioned that we are earmarking capital of 5 trillion in next five years reflecting upon the confidence of the current Indian government.
Mr. Sanjay Aggarwal, Senior President, PHD Chamber highlighted his views on social sector and infrastructure sector of the economy.Mr. Pradeep Multani, Vice President, PHD Chamber and Mr. Rajeev Talwar and other experts commented on the health sector and corporate taxation.Mr. Lalit Khaitan, Chairman, Economic Affairs Committee, PHD Chamber expressed his views on the working system of cyber security and artificial intelligence as the essential part of our economy.
These were followed by Pin pointed deliberations by Dr. Rajat Kathuria, Director and CE of ICRIER and Dr. Subhash Chandra Pandey, former Special Secretary & Financial Advisor, Ministry of commerce and Industry, Ministry of Heavy Industries and Public Enterprises, Ministry of Textiles on the subject of start ups and small scale enterprises towards the boosting up of economy. Dr. Rajat focused on the subject of international and Indirect tax structure. Prof. Rajesh Chadha, Program Director- National Resources, Brooking Institution in his pinpointed deliberation expressed thoughts on institutional growth and foreign investments.
Mr. Rajeev Talwar,Chairman of PHDCCI concluded the session by asserting that we need be multi dimensional while approaching the policies.
Overall the message of the budget speech by Finance Minister Nirmala Sitaraman touches upon the three pillars like aspiration economy, economic development, and caring society for women, enterprises, startup, housing, culture, tourism, infra, taxation and health sector and skill education that should be invested with young minds and engineers.,
Employability Skills Workshop for PGDM students
Management Department of I.T.S Ghaziabad organized Four Day workshop
on “Employability Skills” in collaboration with Rubicon Skill Development Pvt Ltd for PGDM students from 27th – 30th January, 2020. The workshop was the part of “Connect with Work” skill development program in the association with Barclays as part of the CSR initiative along with the NGO partner Tomorrow’s Foundation.
The programme commenced with the floral welcome of the guest, Mr. Vidit Chaudhary Manager, Campus Connect Manager, Rubicon, Ms Deepshikha, Ms Shilpi Chopra and Ms Divya, Trainers for the workshop, by Director (Management), Dr Vidya Sekhri and Chairperson PGDM Programme Dr. V.N. Bajpai.
Dr. Vidya Sekhri shared the objectives of programme and highlighted differences in the expectations and responsibilities at workplace compared to that of the college.
Dr. V. N Bajpai shared the details of complete 4-days Workshop and its objective to make students prepare for Campus Placement and for their corporate journey ahead.
In four days students were trained on many area including Group Discussion and Interview skills. It was a great learning experience for the students., , ,
Utthan Club Activity
Utthan, a CSR initiative of Department of Management at I.T.S - Mohan Nagar, Ghaziabad organised a session on Computer literacy and activities for celebrating "Republic Day” for school children on 24th January, 2020 in the campus.
In the first segment of the activity, students were taken to computer lab to practice “MS Word” using different tools like Alignment, Bold, Color, Highlight etc.
In the second session, students were divided in groups according to their class standards. For Class 1st to 4th, Ball in the Basket competition was organized, for class 5th to 8th Pyramids of Cups was conducted, and for 8th to 12th class, watch and think was organized.
Dr. Vidya Sekhri, Director (Management) inspired the children with her motivational speech.
Dr. Vidya Sekhri and Faculty Coordinator of Utthan Club along with student team felicitated the event by distributing Prizes to all the winners of the activity.
All the students were given refreshment at the end of the session., , ,
‘Parivartan’ – The Slum Education Programme
Department of Management, I.T.S Mohan Nagar, Ghaziabad conducted ‘Parivartan’ – The Slum Education Programme observing the 71st Republic Day of the country last Sunday. First Suhani and Ananya explained the significance of the day to the children. The spoke about what goes into making a democratic republic. They also described the role of the Constitution of India.
Then Sudhanshu and Neha took over as they discussed an important element of the Constitution, viz., - the Fundamental Rights. They mentioned that this part of the Constitution has often been referred to as Udhar ki Potli, as it had been devised after going through the constitutions of several nations around the world. Flags of the ten countries from where inputs were utilised for our Constitution had been thoughtfully created by the students. The learners were asked to identify the flags of the different countries. Sudhanshu helped them in this task.
Finally Nikhil took it upon himself to enlighten the kids about the life of Dr. B.R. Ambedkar. Particular attention was drawn to his pioneering work in giving shape to the Constitution as it is today.
This year marked the beginning of a new initiative at Parivartan – Annual Gala event "Student of the Year" Awards. The criteria used for this purpose included regular attendance, coming with copy and pen every Sunday and performance during the sessions, continuously for the entire year 2019.
The year’s first prize winner Sonu received a second hand laptop which had been refurbished and donated by the Faculty Coordinator himself, loaded with educational movies, photos and useful software.
Second prize winner Nitin received a brand new Bluetooth speaker, contributed by faculty coordinator and volunteers.
Third prize winner Kushi received a brand new School bag, donated by faculty coordinator.
The celebrations finally drew to a close with the distribution of samosas, laddoos and ‘Milk Glucose Biscuits’.
The idea behind The Parivartan Annual award ceremony is to inculcate the importance of education among the students and also to motivate them for their continuous efforts so as to have a chance of winning the award in the next upcoming year., , ,
Genesis 2020 the Inter-College Business Plan Competitionin
Department of Management at I.T.S Ghaziabad organised Genesis 2020 the Inter-College Business Plan Competitionin collaboration with MHRD IIC on 24th January, 2020.
The competition was expected to serve as a platform where students from different higher education institutes (HEIs) would come together to discuss their ideas for innovative start-up ventures.
The Inaugural Session started with the Welcome Address by Dr.VidyaSekhri, Director Management and President, IIC. Dr Sekhri extended a warm welcome to the honourable Chief Guest of the session, Mr.Sant Kumar Gautam, CEO UDYAM, Guests of Honour Dr. Sanjeev Layek, Executive Secretary, World Association For Small and Medium Enterprises(WASME) andMr.Vishal Gandhi, Managing partner & CEO BIORx Venture Advisors Pvt Ltd. During the course of the address, Dr.Sekhrifocused on why start-up culture was necessary. She pointed out that it was a passion, and had to come from a certain mindset.
Dr. Indraneel Mandal, Coordinator (Startups), IIC I.T.S, provided an overview of the day’s event. He explained that the function was being held under the aegis of the Ministry of Human Resource Development (MHRD); the latter had started on a mission of setting up Institution Innovation Councils(IICs)in select HEIs for nurturing ideas from young minds. He also spoke of the support from the Ministry of Micro, Small and Medium Enterprises (MSME).
It was now the turn of the Guests of Honour Dr. Sanjeev Layek began by thanking Director Management and ITS for initiating this type of competition which would help to give a new dimension to the start-up world. He referred to three things to be kept in mind, viz., research, data collection and society. He also threw some light on the three verticals of business – credit, technology and markets. Finally he reminded of the need for passion and a never say die attitude for succeeding in the world of start-ups.
Mr Vishal Gandhi then come forward for an engrossing speech where he constantly interacted with the students in the audience while delineating the salient aspects that determined the success of business endeavours, including capital budgeting, lack of proper management, the difficulty of ascertaining appropriate market size and dynamics.
Finally it was the turn of the Chief Guest Mr S.K. Gautam, who started by saying that every day is a new learning He drew attention to the fact that there were abundant opportunities in a country like India. He cautioned that while marketing research is very important, it often fails due to loopholes in data collection. He suggested that it was necessary to have a good team with diverse experts.
The session ended with Dr.Vidya Sekhri presenting a memento to Mr.Gautam as a token of appreciation.
After the Inaugural Session, business plan presentations took place in two sessions. The first session had Dr. Sanjeev Layek, Mr. Vishal Gandhi and Mr. Sant Kumar Gautam as external judges. Dr. K. K. Dey was present as the internal judge.
Khushboo and Shikha, who were the anchors for the session, welcomed the judges and described the rules to the participants and to the audience. With that the students who were present there from the different colleges started their presentations in their series.
NIT, Greater Noida, flagged off the competition with their presentation on Virtual Villa, an application that brought together imagination and software expertise for visualising homes before starting work on their construction. They were followed by ShyamLal College with their business plan on Brand Deviser for helping entrepreneurs by guiding them to develop businesses and a new market for fashion designers; a team from ITS Mohan Nagar with Luxurious Footpath, offering a means for aggregating street food vendors at one outdoor location; a team from IMS, Ghaziabad with Nimble Beverages, providing the option of an instant food mix for a healthy breakfast; and a second team from IMS, Ghaziabad, whose presentation was on Third- Eye Solutions, involving smart canes for the visually impaired.
The post lunch session started with the felicitation of Dr. Sanjeev Layek by Dr. Vidya Sekhri. The presentations in this session featured a second team from Shyam Lal College with the idea of Paryojya, focusing on the handicrafts sector with a touch of sustainability; Jaipuria School of Business with the innovative concept of 56 Bhog, a women driven food delivery initiative; a team from ITS Mohan Nagar speaking on ISE - The Power of Nature, with a low cost mission for providing green power in rural areas; HIET College with Take spoon, the edible but healthy spoon that could be ecofriendly as well as cost effective; and finally, another team from ITS with Aaha Re, a unique way of satisfying taste buds longing for authentic Bengali food.
Following the presentations Mr. Gautamand Mr. Gandhiappreciated and congratulated all the participants for their efforts and gave tips to all the students on the startups and their business plans. With that all the judges along with Dr. Vidya Sekhri were invited on the stage for declaration of the result and prize distribution.
1st Prize was won byAnkit Meghmala & Vikash Kumar (I.T.S Mohan Nagar). Hema & Team from Shyamlal College were declared First Runner Up. Harsh & Team, also from Shyamlal College, took the 2nd Runner Up position. The prizes and certificates were handed out by the dignitaries onstage.
Dr.Sekhri also felicitated Mr Gandhi for his gracious presence throughout the day’s programme.
In the end Dr. Puneet Kumardeliveredthe Vote Of Thanks on the behalf of IIC ITS.
The participants went home ruminating on the valuable advice from the dignitaries present. The students in general also marveled at the variety of ideas and presentations, inspired with some thoughts of their own., , ,
PG students attended seminar on Consumer Rights & Responsibilities
Management Department of I.T.S Mohan Nagar, Ghaziabad organized a seminar in association with Consumer Rights Organization on “Consumer Rights & Responsibilities, CPA, MRP, Consumer Grievances” on 23rd January, 2020.
The seminar was supported by Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution (Government of India). The seminar was addressed by prominent experts of different areas including FSSAI & Metrology department. Dr. Vidya Shekri extended hearty welcome to Mr. Ashok Kapoor, General Secretary, Mr. Chirag Chopra, President, Consumer Rights Organisation, Mr. Rajesh Kumar Jha, Prof Divya Swami, Mr. R P Chaurasia from Department of Metrology (Weights & Measures). In her welcome address Dr.Sekhri shared her thoughts and highlighted the importance of discussions on such a important issue, related to each one of us.
The objective of the seminar was to make participants aware about their rights and responsibilities as a consumer.
The experts discussed about responsibilities as consumer to be critically aware, alert and to question more – about prices, about quantity and quality of goods bought and services used. In case of any exploitation, responsibility lies in joining hands and raising voices as consumers; to fight in a collective and to develop the strength and influence to promote and protect consumer interest as well.
Dr. V N Bajpai proposed vote of thanks., , ,
PGDM students attended SHRM Webinar
Department of Management at I.T.S Ghaziabad organised a webcast from SHRM on “From Chief People Officer to Chief Employee Experience Officer was hosted for the PGDM Third Semester students at the Board Room, AB-I Building in the afternoon of 22nd January, 2020.
The speakers for the session were Dr. Raju Mistri, Global Chief People Officer, Cipla, Mr.Praveen Menon, Chief People Officer, India First Life Insurance Company Ltd and Mr.Deepak Mishra, Vice President Corporate HR United Breweries Ltd. The moderator for the session was Mr. Ashish Paul, Associate Director Knowledge and advisory SHRM, India.
The topics included areas like history of organisations, experiences of employees, HR philosophy, flexibility in organizations, CHRO roles, strategic practices in organizations, use of collaborative technologies, cross functional collaboration andcreating employee experience
Dr. Mistritalked about hindering positive employee experience, and what can organization can do to make the employees happy. She spoke of empowering the managers, the need for instant quick responses, immediate solutions to the problems, making decisions and the difference between the corporate and manufacturing world
Mr.Praveen Menon dealt with employee life cycle from the beginning of pre hiring of employee till the end of entry and exit. Mr. Deepak Mishra referred to the experience of customers and internal employees.
Finally Mr. Ashish Paul summarized the interaction by putting forth ideas about questionnaires regarding the employee value preposition, AI, HR Philosophy, flexibility in an organisation, strategic/ elements used in an organisation, CHRO roles and employee experiences. He also asked about company stability and techniques used in an different organisations.
It was a comprehensive discussion covering a wide range of issues. The students were very much enthused to have such a holistic view of HR at work inside the organization., , ,