Speaking at the seminar Mr. Hemendra Mathur, Associate Director, Yes Bank eloquently explained various taxes that are introduced in the budget and its overall impact. He explained about the inverse relationship between maturity of an economy and the criticality of the budget. Going into minor details, Mr. Vijay Gupta of Deloitte commented about the sectoral significance of budget. He gave details of FBT, MAT etc. Mr. Prashant Nair of NDTV gave an insight into the impact as positive, neutral or negative. He mentioned sectors ranging from Tobacco, IT to housing and Agriculture.
While speaking about expectations of foreign companies from Budget and problems they face in India, Mr. Rajiv Anand, Associate Director, PWC gave examples from his own experience. Mr. SC Aggarwal, VP (Global Tech.), Ranbaxy gave a direct tax perspective and compared Global Trends in Tax rates and how it has an overall effect on economies. Mr. TK Arun, Resident Editor of Economic Times, New Delhi emphasized on progress of economy as a whole rather than in parts. Budget should reduce the disparities rather than focusing on sectors that are in vogue but effect only a minority.
Mr. Anshu Gupta of NGO Goonj touched a chord when he said” Delivery mechanism is as important as allocation’. We should understand ground realities and ensure the benefit of budgets and its impact reaches everyone.
Perhaps the event can be best summarized in Prof. Harish Chaudhary’s words “Implementation is as important a part as formulating the budget and someone has to take the responsibility”