New Delhi, February 5, 2020: Indian School of Business & Finance Commission, one of the top five Teaching Institutions of The London School of Economics in the world, organized their noteworthy Distinguished Public Lecture Series, which was delivered by Dr Ashok Lahiri, Member of the Fifteenth Finance Commission and the Former Chief Economic Adviser to the Government of India, on ‘Policy, Implementation, Electoral Compulsions and State Capacity’ to a gathering of around 50 students, which included participation from ISBF and other colleges across NCR like Hindu College, SRCC, Jamia, Amity College, ShaheedSukhdev College, NIT, Galgotia and Faculty of Law from Delhi University among others.

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Dr. Lahiri, who has wide experience in policy making and policy implementation, during his lecture on ‘Policy, Implementation, Electoral Compulsions and State Capacity’ emphasized on the aspects of how policy making and its implementation through examples of the Fiscal Responsibility and Budget Management Act, 2003 (FRBMA), Electricity Act, 2003, GST and RTE, 2009 and how despite these Acts being passed by the Parliament, in implementation it still has not been able to achieve the objectives they were intended to how capacity of the state machinery, electoral compulsions, policy design and how the gaps within the systemic intervention of legislation to delivery tend to become the actual impediments.

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Responding to questions by the students on the recently presented Union Budget 2020, Dr. Lahiri made an interesting point, when asked on issues of the newly stipulated Income Tax norms, he said that,the tax-payer now has the option to choose as the tax-payer can do their own calculation and pay whichever amount is less and that if anyone is at a loss, after this budget, it is the government.In conclusion to this explanation, he said, “No tax payer, after this budget, should feel worse off”.

Presenting the concluding remarks to Dr.Lahiri’s lecture, Dean, Academics at Indian School of Business and Finance (ISBF), New Delhi, Dr. G.L.Tayal reminisced his interaction with Dr.Lahiri during their days in higher education. In his valedictory address, Dr.Tayal emphasized, “In this series, we invite eminent people to share their insights on current issues with our students. Students not only benefit from getting to know the relevant policy discussions and debates but also benefit from the rich discussion they are able to have with the distinguished guests. Having a stalwart like Dr Ashok Lahiri amongst the students for interaction is indeed a privilege and we are anticipating an exceptionally stimulating session”.

At the Indian School of Business & Finance, owing to an application-oriented, world-class London School of Economics’ curriculum, guest speakers and public lectures have always been an integral part of the learning journey. In the past, the institution has had the good fortune of hosting renowned speakers from a diverse set of backgrounds and sectors. Under the title of Distinguished Public Lecture Series, ISBF has had outstanding personalities from the fields of economics, management and finance, before Dr. Ashok Lahiri, including DrMontek Singh Ahluwalia, Former Deputy Chairman, Planning Commission; DrPronabSen, Former (and first) Chief Statistician of India; DrAbhijitSen, Former Member of the Planning Commission; Nikhil Arora, Vice President and Managing Director, GoDaddy India, amongst others.