During the Panel discussion on recent Union Budget, Vishwas gave a comprehensive analysis of the implications of Budget policies especially on education and corporate sector. He emphasized as to how significant it is for the state governments to be pro-active in implementing the RTE (Right to Education Act) highlighting Lack of infrastructure, lack of awareness in people and absence of grievance mechanism system are being the fundamental drawbacks.
Although the outlays in Union Budget 2012-13 towards education have seen a marginal increase making it 4.97% of GDP, it is still way below the benchmark of 6 % of GDP that had been recommended more than 40 years ago.
He added that the government is still broadly focused on primary education; the higher education segment is largely overlooked. Almost 80% of graduates from Indian colleges lack employability and have to spend their first few years learning the basics at their jobs. He stated that Public Private Partnerships could be used as recommended model to uplift the standards of Higher education in India.
Also, vocational training and the e-learning could reduce the costs of implementation in terms of instructor charges and real estate costs, providing high scalability and standardization of services.
He further threw light on the implications of newly announced MAT (Minimum Alternate Tax) and the Transfer pricing policies in the corporate sector.
The future MBAs as the audience well received the answers to their queries on Union Budget as Vishwas went ahead by answering their questions with explicit illustrations.
Being awarded the Star Entrepreneur Award and being a young successful CEO, Vishwas was requested to speak about his journey as an entrepreneur which started at a mere age of 18. Students were inspired to hear the challenges and milestones of success he has achieved till date and his vision to revolutionize the Indian education system with technology.
Vishwas quoted “Think and act like Leaders and not Managers”. He also touched upon the significance of entrepreneurship in anything they pursue in their professional lives. Being innovative, taking calculative risks and futuristic approach are the key essentials of being a successful entrepreneur.
Padmashri Dr.Jaya Arunachalam, a renowned social service activist was one amongst other eminent personalities present at the event.