FICCI hails Union Budget 2023-24 as futuristic & inclusive

Bhubaneswar: FICCI Odisha State Council in association with the PwC organised FICCI’s Union Budget Analysis 2023–24  in the city here today.

Pankaj Kumar Satija, Chairman, FICCI Odisha State Council & MD, Tata Steel Mining Ltd, welcomed the delegates and speakers to the session.

He briefed about the impact of Union Budget on the Industry as a whole. He described the Budget as futuristic and inclusive.

With an increase in Capex investment, the government is fully focused in boosting the infrastructure in India. “The private sector should leverage the investment in infrastructure sector,” he said.

Monica Nayyar Patnaik, Past Chairperson, FICCI Odisha State Council and Managing Director, Sambad Group, said higher allocation in the capital expenditure will boost the economy.

Announcement of the Mahila Savings Scheme with attractive interest rate will help the women entrepreneurs and SHGs, she added.

She further said the Budget will have a good impact on media and entertainment sector. She hailed the announcement of simplified KYC process and launch of 30 skill centres across sectors.

Suresh Sivanandan, Director of Income Tax, said the Budget is meant for the welfare of the nation.  The Budget always has an incremental effect and we should have realistic expectation. Tax evasion surpasses legitimate tax planning in India, he said.

Saurabh Kedia, CA, Partner, Price Waterhouse & Co LLP threw light on the impact of the budget on the Direct Taxes while Gopal Agrawal, CA, Partner, Price Waterhouse & Co LLP analyzed the impact on Indirect Taxes.

Pankaj Kumar Satija, Chairman, FICCI Odisha State Council & MD, Tata Steel Mining Ltd, also moderated the panel discussion on ‘Implications of Union Budget on Trade and Industry’.

Nitin Kale, Senior Vice President, JSW Steel Ltd, Tapan Kumar Mohanty, Managing Director, Z Estate Pvt Ltd, Rajen Padhi, Chairman Exports Committee, FICCI Odisha State Council and Commercial Director, B-One Business House Pvt Ltd, Bramhananda Mishra, President, UCCI, ND Rao, President, Atha Steels & Amalgam Steels and D Jena, SoA University shared their views on the impact of the Union Budget 2023-24. Sanjeev Kumar Mohanty, Head, FICCI Odisha State Council proposed the vote of thanks.