Experts laud Union Budget

Chaderghat : A symposium on Union Budget 2021-22, which was presented on February 1 by Finance Minister Nirmala Sitharaman, was conducted at RG Kedia College on Thursday.

The six pillars of the budget viz. healthcare, manufacturing, infrastructure including road and rail transport, innovation, minimum government and maximum governance and privatization were given due importance in the deliberations. The learned speakers said that the Budget was progressive and forward looking and aimed at V-shaped recovery through Atma Nirbhar Bharat Abhiyan.

There was no fresh burden by way of Income Tax. The progressive measures proposed by the government with regard to transforming economy through divestments in BPCL, LIC, Air India etc. were in the right direction for promoting the economy. All the speakers welcomed the importance given to agriculture.

The empowering of Micro, Small and Medium Enterprises (MSME's) and encouraging start-ups was welcomed by the speakers. It is useful for empowering the youth and generating employment. The budget will also contain fiscal deficit and inflation by increasing productivity and investment.

Prof Dr DVG, Krishna, Director, MSS and a noted economist, welcomed the gathering and complimented Prime Minister Narendra Modi and Nirmala Sitharaman for a path breaking budget.

He expressed satisfaction with allocation of Rs.34,000 crore for vaccination and said that a balanced budget should aim at steady growth to achieve 7 percent GDP growth. Fiscal deficit should be contained.

Lion SB Kabra, FCA, Jt. Secretary, Marwadi Shiksha Samithi and Vice President, All India Tax Practitioners Association explained the Income Tax related provisions including extension of ITR filing date, exemption for senior citizens above the age of 75 years, Exemption for dividend and new rules for LLP companies.

Prof R Nageswara Rao, Head, Department of Business Management, OU, Prof J Manohar Rao, UoH Prof S Indrakanth, Former Professor, OU, Prof M Ramulu Associate Professor, OU, Dr. Neelkantham Tatikonda were among the dignitaries who spoke at the symposium.