- This event is over. However, time travel possible through our Audio & Video!
The 2023 Union Budget of India will be presented in a few days. While economists and analysts predict trends, pick apart the nuances and poke holes into the budget, how many of us actually understand what any of it means? In preparation for the announcement, we have crafted a session, a budget basics of sorts, for those of us who need it explained, slowly and simply.
The session will focus on:
- What is the purpose of the budget? What is the history of budgets in Independent India? Why does it have the place of importance it seems to enjoy?
- Comparing the National budget to a household/joint-family – similarities and differences
- Top-line, Bottom-Line and everything in between
- What are a few things to keep an eye on? What directly impacts us? What indirectly impacts us? Can the government take important steps without announcing in the budget?
- Should I join the budget party? Or should I just get the highlights on Instagram and head out with friends.
Everyone, no matter how young and uninformed (it’s better if you are), is welcome! No question is too basic or too silly – remember the gap between profound and simplistic favours the right-brain!
Post event and Post budget notes
At the BIC session, Narayan Ramachandran made an inspired guess of likely 5.8-5.9% fiscal deficit and considerable increase in capital expenditure which turned out to be prophetic. We asked him for his quick summary on the budget in the light of his session. That is set out below.
Narayan Ramchandran is father of two girls, husband of writer, social entrepreneur, columnist and emerging market investor. He worked on Wall Street (mostly at Morgan Stanley) for over 20 years, most recently as head of global emerging market investing and then country head of Morgan Stanley in India.
Narayan is co-founder and Senior Fellow at the Takshashila Institution. He received a B.Tech. in chemical engineering from the Indian Institute of Technology Bombay and an M.B.A. from the University of Michigan. He is a Chartered Financial Analyst (CFA). He writes a fortnightly column titled “A Visible Hand” for The Mint Newspaper.