Bhubaneswar: 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; X-Fin, the Finance Association of Xavier Institute of Management, Bhubaneswar, organized the 5th annual budget analysis session in collaboration with World Trade Centre, Bhubaneswar on Monday.
Nimeshika Natarajan from World Trade Centre welcomed the eminent personalities to the dais for providing a coordinated evaluation of this year`s budget. Prof. (Dr.) Satya Narayan Misra, IES, Dean, KIIT School of Management applauded the allocation of almost Rs 36, 000 crores to the nutritional sector. He also shed light 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.
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.
XIMB prof. B.S. Mishra, 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 decisionmaking.
A.K. Sabat, founding partner at A.K. Sabat & Co., focused 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, he claimed owing to his years of experience.