Bhubaneswar: Feb 08: The reduction in the tax rate for individuals in the lowest income tax slab will leave more disposable income in the hands of the people and will enhance consumption demand in the economy which had taken evident hit due to the demonetisation move. After reviewing the budget document experts given this statement.
In a post budget discussion organised by Federation of Indian Chamber of Commerce and Industry (FICCI) in association with PwC, They said that 50 per cent reduction in tax liability is a huge positive for the maximum number of tax payers of the country. The Finance Minister has gone the Keynesian way to stimulate growth in the economy through higher demand.
In this event experts were discussed many parts of the budget. Benefit of the budget proposal for individual and industries. Sector specific discussion also done. Experts give their views on budget proposals. Most of them hail the budget and Finance Minister Arun Jaitley for preparing such a nice budget. Merger of Rail budget with the general budget was a positive move, as said by the dignitaries present at the programme. Mr. Subhrakant Panda, Chairman, FICCI Odisha State Council, Mr. Sarat Kumar Dash, IRS, Commissioner Income Tax, Government of India and Prof (Dr.) D V Ramana have given their in addressing in the event.
Manish Sheth, Partner, PwC gives analysis on Direct Tax. Pulak Saha, Partner, PwC highlight on Indirect tax. Vivek Pattanayak, Chairman, MSME Panel, FICCI Odisha State Council, Dilip Satapathy, Resident Editor, Business Standard, Rajen Padhi, Director General, UCCI, Tapan Kumar Mohanty, Managing Director, Z Estates Pvt.Ltd and Ujjwal Chatterjee, Chief Operating Officer (COO), Tata Sponge Iron Ltd would also be giving their insight on sector specific impact of budget.
