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SDMIMD Mysore hosted a conclave on July 29, 2024 to deliberate on the Union Budget 2024-25 in collaboration of CII Mysuru, with PWC serving as the knowledge partner. The event featured insights from prominent industry experts and eminent academicians.
Mr. Eashwar Rao V, Chairperson, CII Mysore zone while highlighting the key aspects of the budget, said that it was an inclusive budget. Dr. (Lt Col) S N Prasad, Director of SDMIMD, Mysuru, termed the budget forward-looking and future-oriented. Mr. S Ranganathan, Convenor of CII Mysuru Finance & Taxation Panel spoke highlighting the initiatives for MSMEs and discussed the implications of short-term and long-term capital gains.
Partners from PWC, including Ms. Prajwala Pai, Mr. Vishal Krishnam, Mr. Keshav Mundhra, and Mr. Ravi Kumar Bhatia, shared perspectives on the tax revisions proposed in the Budget. They felt that a rise in security transaction tax may restrict speculative trading infusing greater stability to the market. An increase in short-term capital gains tax was termed undesirable as this would affect the interest of the middle asset class.
The conclave had a panel discussion on the implication of the budget proposals on the key sectors and sections of the economy featuring experts from different domains. Dr Venkatraja, Associate Professor of Economics at SDMIMD Mysore said that budget emphasis would boost agriculture but income disparity among the farmers is still a challenge. Prof. Shyamsundar from NIE Mysore said that the budget would contribute to the much-needed energy transition and sustained future. Prof. Girish Gopalarao, Associate Professor, SDMIMD Mysore believes that the budget would create an appropriate ecosystem need for IT and automotive sectors. Mr. Sabareeshan, an Independent Director at BPL Ltd analysed the various budget provisions for the manufacturing sector. Mr. Vishal Krishnam, partner at PWC shed light on how BFSI sector could leverage the budget for more growth. Dr. S N Prasad moderated the discussions and appreciated the increasing allocations to the defense sector as this would accelerate the efforts of modernising and strengthening the defense forces.
The conclave also featured a brief presentation on the salient features of the union budget by the students of SDMIMD - Mr. Rajath, Ms. Monica, Ms. Shwetha Krishna and Mr. Naman. Dr B Venkatraja delivered a welcome address and highlighted the key features of the budget. The conclave was witnessed by industry leaders, practitioners, academicians, and students.
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