A detailed analysis session of the Union Budget 22 was
organized in association with the Indo American Chamber of Commerce. Dr.
V.K. Vijayakumar, renowned Economist and Author delivered the Keynote
address while Mr. Raghunathan Parthasarathy-Associate Partner, Tax &
Regulatory Services, BDO India and Mr. Dinesh Kumar, Associate
Partner-Indirect Tax, BDO India provided micro analyses of the budget.
Dr. V.K. Vijayakumar in his keynote address observed that the 2022
budget was a non-populist, growth-oriented budget. Major challenge that
the Indian economy is facing is to sustain the growth rate. To do this,
Government must step up capital expenditure. The RBI had played an
important role to bring in the growth rate by providing a monetary
stimulus. But this stimulus is most likely not to be expected in the
coming financial year due to tightening of monetary policies globally.
Private capital expenditure is also not happening at the adequate level.
The budget has offered a 35% increase in capital expenditure. Since the
outbreak of the pandemic, the organized sector is doing well whereas
the unorganised sector which consists of 29% of India’s GDP has
suffered.
Mr. Raghunathan Parthasarathy listed the developments the Budget has
brought on direct taxes. He explained the tax slabs and rates. He also
spoke on the taxation on digital assets.
Mr. Dinesh Kumar shared the details of the budget related to indirect
tax . He covered the GST, Customs and Central excise aspects.
Mr. Vivek George, Manager, World Trade Center; Mr. Riyaz U.C.,
Chairman, Indo American Chamber of Commerce and Mr. Sandeep Raj,
Coordinator, WTC Kochi also spoke.
