X-Fin, the Finance Association of Xavier Institute of Management, Bhubaneswar, organised the fifth annual Budget analysis session in collaboration with World Trade Centre, Bhubaneswar, on February 3.
Prof Satya Narayan Misra, IES, Dean, KIIT School of Management, applauded the allocation of almost ₹36,000 crore to the nutritional sector. He shed light on the prioritisation of social justice and tax distribution system while appreciating the growing capital expenditure model of the country and informing about the need for an 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 mobilise 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.
Policy flip-flops
Prof BS Mishra of 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.
CA AK Sabat, Founding Partner at AK Sabat & Co, said that the focus should be to 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, he said.