The Union Budget 2023–24 is an inclusive and progressive budget with a clear focus on Digital India, Artificial Intelligence, Fintech, Agritech, 5G, Social Entrepreneurship, and R&D. It is believed that the said budget will empower the youth to play a more significant role as India confidently ushers its way into a more liberating and prosperous economy. In order to provide students with a vision as to what are the most significant sectors to which the budget caters, the Asian School of Business (ASB) organised a mega-event “Budget Conclave 5.0” on March 3, 2023. The event started with a welcome note and introduction to guests by the president of the Managers Club, followed by the introduction of speakers.
In all, twelve teams represented twelve industries. Speakers from each industry spoke about the impact of the budget on their chosen industry for about 10 minutes and underlined the key developments that are expected to take place in their respective sectors. The twelve industries were: healthcare & pharmaceuticals, railways, textiles, automobiles, defence, tourism & aviation, education, communication services, information technology, energy, common tax payer, and agriculture. One industry was assigned to each group, which consisted of 5–6 students, and the entire event was moderated by two students. During the event, the speaker from each group presented a quick evaluation of its respective sector based on its past performance. The speaker also highlighted the possible changes that the new budget is most likely to create.
After all the speakers concluded their presentations, the floor was open for a question-and-answer session. The evaluators from the industry, Dr. Karishma Chaudhary (founder of EcoHats Pvt. Ltd.) and Dr. Praveen C. Srivastava (founder and CEO of PNP Consultants), judged the event. A vote of thanks was given at the end by the president of the club, and mementos were presented to the guests by Dean Academics Dr. Maroof Ahmad Mir. The event closed with a valedictory session where the judges shared their experience of attending the conclave and also encouraged students to continue their active participation in the future. Towards the end, prizes were distributed to the winners of the event.
The event very well met its desired results, as students were provided with the platform to opine on a critical and significant topic like budget. Moreover, the students who attended the event got to realise the impact of budgets on different sectors and the ways and means of improving their conditions.