World Trade Center Bhubaneswar in association with X-Fin, The Finance Association of Xavier Institute of Management Bhubaneswar organized Union Budget Conclave 2023 to analyse the nuances of Budget 2023 on various aspects of Indian economy and its stakeholders by industry stalwarts and experts. The esteemed panellists highlighted both the positive and the critical aspects of the Budget 2023 further providing a hopeful vision ahead.

 CA. Rajib Sekhar Sahoo, Principal Partner, SRB & Associates, Chartered Accountants, Bhubaneswar in his address showed us the populist aspect of the budget. He highlighted the impact of last mile connection, strengthening defence budget, impetus on digital economy, strong global education as well as health infrastructure. ‘This has been a very bold budget. Emphasis on middle class section of the society, agro-processing which is lacking to reach the momentum, capital expenditure etc has to be taken up’, he added.

Mr. Ashok Kumar Sharda, Secretary, Utkal Chamber of Commerce & Industry Limited and Managing Director, M/s Grow Green Consortium Pvt. Ltd. in his address lauded the remarkable achievement of the Budget 2023 to involve all sections of the society. He further deliberated on the ease of doing business in the country as well as the state, inflow of goods from china being curbed, boost to the manufacturing sector, bio-agricultural practices etc. He also highlighted various schemes by the government like Green Credit Program, Amrit Dharohar Scheme, PM Pranam Scheme, Data Governance Policy as well as BPKP initiatives.

Mr. Braja Kishore Dash, General Manager, Finance and Executive Director – In Charge, NALCO deliberated from the industry perspective on the implications of Union Budget 2023. He spoke on the reasonable quantum requirement from the budget, inclusive growth, indirect taxation on industries, provisions for academic institutions further providing boost to skill development. He also delivered on the impressive budget allocation to MSMEs, Green Energy initiatives, infrastructure development schemes and the nuances of Make in India concept.

CA. A.K. Sabat, Partner, AK Sabat & Co. made alluring observations on the salient features of Union Budget 2023. He presented on the Direct Taxation, Indirect Taxation, Old Tax Regime, New Tax Regime, implications of taxation on the middle class section of the society and the litigations of taxations. He also highlighted and lauded the Agnipath Yojana.

Earlier in the session, Ms. Nimeshika Natarajan, Assistant Director, World Trade Center Bhubaneswar delivered the welcome address and deliberated on the implications of taxation on entrepreneurship.

Prof. Subha Kant Padhi, Professor, Xavier Institute of Management, Bhubaneswar moderated the session and proposed the vote of thanks.

The session was followed by a highly interactive and insightful Q&A Session.