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Panel discussion and session Demystifying the Union Budget 2024

A panel discussion was held on 23rd February 2024 in Pune by MIT-ADT University Pune. The panellists for the discussion were Mr. Pratik Neve (Chartered Accountant, Founder-Zest Learning), CA Shripad Inamdar (Senior Director Finance at Mindtickle), Mr S K Jha (IRS Retired and Former Chief Commissioner of Income Tax), Dr. Sunita M Karad (Executive Director, MIT College of Management, CA & ICR, MIT-ADT University, Pune) and Mr. Nikhil Dhaka (Policy Lead, Primus Partners)

The key points highlighted by the panel included:

  • The current fiscal year's budget embraces the concept of Viksit Bharat, aiming for India's development by the year 2047 as envisioned by the government.
  • Significant enhancements across various infrastructure sectors, including physical, digital, and social, are anticipated.
  • Efforts are underway to broaden and intensify the tax collection framework through the implementation of GST.
  • An allocation of Rs.1 lakh crore has been made to support tech-oriented youth with an interest-free loan for 50 years, aimed at facilitating low-cost financing and refinancing opportunities.
  • Under the PM Gati Shakti initiative, the government intends to roll out three key railway corridor projects focused on energy, minerals, and cement, port connectivity, and managing high traffic density.

The panel also discussed various other points related to both Micro and Macro economic implications of the interim budget and how it could potentially influence India's economic trajectory towards achieving the envisioned Viksit Bharat by 2047.