In order to make the students understand how to the Annual Financial Statement is presented in the Lok Sabha by the finance minister, Dr. Vikhe Patil Foundation's CMRD had arranged a pre-budget session on the 28th Feb 2007 at 9:30 pm in the Seminar hall.

Hon. Director Dr. J K Sirur, in his presentation highlighted the different terminology used in the Budget, which included the what is ment by Deficit budget, Direct taxes, indirect taxes, implication of services tax personal income tax, Corporate taxes. The students were also made to understand how the policies of the Government affect different sectors such as Manufacturing, Agriculture, Exports. And even more within the manufacturing sector different industries.

Dr. Sirur's presentation was followed by the presentation of Dr. Amod Markale. He spoke about 'The provisions regarding the Annual Financial Statement' in the Constitution of India. The different Finanacial Publications such as the White book, Blue Book and the Green Book that the Government publishes at the time of Budget. The meaning of the Consolidated funds of India, Appropriation Act, were also explained to the students.

At 11 pm. The Students and the faculty watched the live telecast of the Finance Ministers Budget speech. The appointed students recorded the speech in order to analyse the same at later day.