News Detail

Monday, July 19, 2021

Webinar on Fiscal Policy Stance of India - 2021 and Skill Development in collaboration with University Of Jammu Special Purpose Vehicle Fund Under Udhampur Campus Capacity Building Series (UCCBS).

Udhampur Campus, University of Jammu on July 19, 2021, under the Rectorship of Professor Parikshat Singh Manhas, a webinar was held in collaboration with the University of Jammu Special Purpose Vehicle Foundation as part of the Udhampur Campus Capacity Building Series (UCCBS) on the topic "Fiscal Policy Stance of India-2021 and Skill Development." Prof. Atvir Singh, Head, Department of Economics, CCS University, Meerut (Resource Person) began the webinar by providing an overview of fiscal policy and an in-depth look at the fiscal policy implementation. He also mentioned that the 2021-22 budget has six pillars: health and well-being, physical, financial, and infrastructural resources, development for India aspirational, reinvigoration, innovation, and R&D, and minimum government and top-level governance, aatmanirbhar Bharat. The current policy also emphasises job creation, which has an impact on several industries such as shipping, automobiles, healthcare, electronics, and textiles. A detailed discussion on Education, skill development, entrepreneurship, and startups were also discussed in the session. He also informed that total of Rs 3000 crores would be allocated to skill development. As a result of better employability, labour productivity, and competitiveness, skill development can contribute to structural transformation and economic growth. He also spoke about the National Education Policy 2020, which aims to strengthen the country's 15000 schools. He also informs the audience about the government's proposal to cut margin money requirements for startups from 25% to 15%. He also brought forward issues to other concerning sectors. Finally, he emphasised fiscal policy initiatives aimed at improving the skills of Indian youngsters, which might result in a demographic dividend and trained youth contributing to the economy through productive work. Youth participation in productive jobs increases their purchasing power, which leads to a rise in consumption demand. Investors are encouraged to invest in businesses as a result of the increased demand for goods and services, and business investment is the key to economic growth. This is the only way to get India's economy back on track for strong growth.
In his welcome message, Professor Parikshat Singh Manhas, Rector, Udhampur Campus, University of Jammu remarked that while epidemics compelled institutions to close their doors, as teachers, we discover other dimensions to inculcate knowledge to the students. This webinar is an exceptional example of our work. He also emphasises the significance of fiscal policy and its role in the development of skills. He also assured the participants that Udhampur Campus would continue to host such events and told them about future plans. Furthermore, we must all strive tirelessly under the energetic leadership of Professor Manoj K. Dhar, Vice-Chancellor, University of Jammu, to make the Udhampur Campus, University of Jammu a energetic campus and a symbol of the university.
Earlier in the webinar, Dr. Ajay Kumar Salgotra, the webinar coordinator from the Department of Economics, spoke to the audience about the nature and scope of fiscal policy in relation to skill development. There were 167 people that signed up for the webinar from various colleges and universities across the country. The webinar coordinator, Dr. Ajay Kumar Salgotra, gave a formal vote of gratitude. He complimented Professor Manoj Kumar Dhar, Hon'ble Vice-Chancellor, University of Jammu, and patron of the webinar, deserves special recognition for his unwavering support and leadership. He also praised Professor Parikshat Singh Manhas, Rector, Udhampur Campus, University of Jammu and convenor of the webinar, for guiding and supporting us in launching the Udhampur Campus Capacity Building Series (UCCBS). Professor Atvir Singh, Head, Economics Department, CCS University, Meerut (UP), who accepted our invitation and gave up valuable time to participate in this webinar, was also thanked.
Mrs. Taruna Dubey, Mr. Vinod Kumar, Dr. Shilpa Gupta, Mr. Nikhil Khajuria, Dr. Neetu Kumari, Dr. Ritika Sambyal, Dr. Kamani Dutta, and Mrs. Mamta Sharma were among the teaching faculty who attended the event.