The Justice K.S. Hegde Institute of Management at Nitte in Udupi district conducted a panel discussion on the Union Budget 2007-08 at Nitte recently. A press release by the institute said here on Monday that experts from various fields discussed the Budget proposals. Dr N.S. Shetty, a leading agricultural economist, who spoke on `macro economy and budget', said that efforts are needed to strengthen the agricultural sector of the country. A new thinking is essential in this direction, he said. Mr M. Rajendra, Director of Planning and Finance, Nitte Education Trust, said that the key to long-term planning is missed in the Budget. Prof Ramesh Karnik, faculty at the institute, said that efforts should be made to increase allocation to the defence sector, as economic prosperity depends on security issues. Dr M.S. Moodithaya, Director of the institute, moderated the panel discussion.