Mysuru: At a conclave hosted by the Confederation of Indian Industry (CII) Mysuru zone and PwC, V Eswara Rao, Chairman of CII Mysuru, emphasized that the Union Budget for 2024-25 aims to elevate India to the third-largest economy globally. The event, organized by SDM Institute for Management Development (SDMIMD), focused on evaluating the budget’s impact and strategies.
Rao described the budget as inclusive, addressing multiple facets of the economy such as agriculture, rural development, skill enhancement, and infrastructure. He praised its comprehensive approach, which reflects a commitment to broad-based economic growth.
Dr. (Lt Col) SN Prasad, Director of SDMIMD, characterized the budget as forward-looking and future-oriented. He stressed the importance of assessing the budget from various growth perspectives, noting that the emphasis on capital expenditure (capex) in infrastructure would meet long-term needs.
S Ranganathan, Convener of CII Mysuru’s finance and taxation panel, highlighted the high expectations set by the budget, particularly for Micro, Small, and Medium Enterprises (MSMEs), the largest employment sector in India. He discussed the implications of short-term and long-term capital gains, indicating that reinvestment banks are poised for significant growth.
The conclave included a panel discussion on the budget’s impact across key sectors and economic segments, featuring insights from domain experts.