INDIAN BUDGET EMBRACES SOCIAL SECTOR DEVELOPMENT

Meticulous analysis of the annual budget is one of the fundamentals ingredients involved in the growth of every citizen of our country. Keeping in line with the legacy of bolstering this aspect of future leaders World Trade Center Bhubaneswar organized the 5th annual budget analysis session in collaboration with X-Fin, the Finance Association of Xavier Institute of Management, Bhubaneswar. 

Prof. (Dr.) Satya Narayan Misra, (Retd. IES), Dean, KIIT School of Management applauded the allocation of almost 36000 crores to the nutritional sector. He also stressed on the prioritization of social justice and tax distribution system while appreciating the growing capital expenditure model of the country and informing about the need for active involvement in industry 4.0.

CA Tarun Kumar Agarwalla, Partner, M/S T K. Agarwalla & Co. stated how the shift in the taxation system is a result of changing economic conditions. He highlighted the initiative to mobilize the manufacturing sector as a watershed moment especially in the SME segment while praising the laws to be implemented to cleanse the taxation system of fraudulent transactions. 

Prof. B.S. Misra, Faculty, Xavier Institute of Management, Bhubaneswar, mentioned the hard landing of the economy in a macroeconomic context. He stated the need to conquer ‘animal spirits’ through proper fiscal re-configuration as the risk of missing debt and operating targets looms large while touching upon the policy flip-flops that might lead to uncertain times. The balance of payment crisis also got a worthy mention owing to an unstated result of retrospective decision making. 

CA A.K. Sabat, Founding Partner, A.K. Sabat & Co., advocated that the government should focus on the need to properly implement the existing framework of the economy instead of making continuous variations in the taxation system. “Developing the ability to take the changing global state of affairs within its stride should be the core strength of any economy to calm the nerves of the population during topsy-turvy times” said Mr. Sabat.

Earlier Ms. Nimeshika Natarajan, Assistant Director, World Trade Center Bhubaneswar welcomed the eminent speakers and the audience to session and provided a synchronized evaluation of this year`s budget.

A vote of thanks proposed by Ishita Aggarwal and Adarsh Agarwal of X-Fin brought down the curtains on this interactive and intriguing session that outlined the intricacies of the budget, strengthening the acumen of one and all.

In Photo (L-R): Ms. Nimeshika Natarajan, Assistant Director, World Trade Center Bhubaneswar (on the dais), Prof. B.S. Misra, Faculty, Xavier Institute of Management, Bhubaneswar, Prof. (Dr.) Satya Narayan Misra, (Retd. IES), Dean, KIIT School of Management, CA Tarun Kumar Agarwalla, Partner, M/S T K. Agarwalla & Co.,CA A.K. Sabat, Founding Partner, A.K. Sabat & Co.