Bhubaneswar: The FICCI Odisha state council here today organised a post Budget analysis session to analyse its impact on industry.  The stalwarts from various sectors of the industry participated in it.

During the start of the programme, Pankaj Kumar Satija, Chairman, FICCI Odisha State Council & EIC – FAMD, Tata Steel Ltd welcomed the delegates and speakers to the session. He briefed about the impact of Union Budget on the Industry as a whole. Narrating about the budget he said it is futuristic and inclusive. Hailing the budget as growth oriented, he said that the Union Budget 2024-25 focused on growth and stability, with significant allocations for skilling and job creation, housing, and agriculture. The budget also emphasizes building infrastructure and support to MSMEs aimed at stimulating economic growth and reinforcing investor confidence. Overall, it's an impactful budget for all, he concluded.

Speaking on the occasion, Monica Nayyar Patnaik, Past Chairperson, FICCI Odisha State Council & MD, Sambad Group said that it’s a Triveni of budget that focuses on boosting consumption, infra development and simplifying taxation. She said that it also stresses on women empowerment and development of soft infra to help them. She was of the view that though all looks good on paper, implementation is the key.

Joining the discussion, Abani Kant Nayak, IRS, Commissioner of Income Tax (TDS), Government of India mentioned that abolishment of angel tax is well appreciated that will benefit the MSMEs & start-ups. Simplification of capital gain taxes will benefit all sectors of the people. It would prove better compliance for industry as well, he said. Overall, this budget will bring certainty to the taxation system, expressed Nayak.

Likewise, Diparun Mukherjee, Associate Partner, Price Waterhouse & Co LLP highlighted the impact of the budget on the Direct Taxes whereas Satyanarayan Gupta, Associate Director, Price Waterhouse & Co LLP analyzed the impact on Indirect taxes.

Rajen Padhi, Commercial Director, B-One Business House Pvt Ltd and Dr Sanjeev Mahapatra, MD, Terrablock Machinery shared their views on the impact of the Union Budget 2024-25 on exports and international trade and MSME and skill development respectively. Srihari Patra, Asst. Director, FICCI Odisha proposed the vote of thanks.