Mysuru: Shri Dharmasthala Manjunatheshwara Institute for Management Development (SDMIMD) in association with Confederation of Indian Industries (CII) Mysuru and Mysuru Chapter of The Institute of Company Secretaries of India (ICSI), organised a Union Budget Conclave 2021, a post Budget analysis through virtual mode, on February 9.
The panellists for the session included Dr. N.R. Parasuraman, Director, SDMIMD, Amit Kumar, Chairman CII Mysuru, Pavan Ranga Vice Chairman, CII Mysuru, S. Ranganathan, Convener, CII Finance and Taxation Panel.
Various points were discussed and the panellists were unanimous in the opinion that the budget was growth oriented with more focus on healthcare, agricultural and rural development, and infrastructural development.
According to them, there were few areas like education and defence where the focus of the budget was limited. Also missing out in the budget was MSMEs (Micro, Small and Medium Enterprises). Some panellists opined that MSMEs’ name was not mentioned in the budget since a substantial part of the stimulus package announced in the pandemic period was towards MSMEs.
They argued that the fiscal stimulus by the Government as suggested in the economic survey was factored in the budget through announcement of special packages and incentives on infrastructural development and impetus to ‘make in India’ as part of ‘Atmanirbar Bharath’.
Ganesh Krishnamurthy, Sandesh Kumar and Faneel Shah, partners from PWC (Price Waterhouse Coopers) highlighted the salient features of the Union Budget with respect to direct and indirect taxations.
Dr. M. Sriram, Associate Professor-Finance, SDMIMD welcomed the gathering and briefed on the program and the budget. The session was moderated by Devanathan, Co-convener, finance and taxation panel, CII Mysuru who also proposed vote of thanks.
