The annual post budget analysis of the Union Budget 2024 was organised at Four Points by Sheraton, Infopark, Kochi. The event, which was supported by South Indian Bank also had Centre for Public Policy Research, NASSCOM and Infopark, brought together industry leaders and policy experts to dissect the budget and its implications for businesses across various sectors. Mr.Hrishikesh Nair, President of WTC Kochi, delivering the opening remarks. Mr. Nair set the stage for the discussions, emphasising the significance of understanding the budget's impact on business and economic growth in the region.
Keynote Address: Addressing Unemployment and Political Shifts
Dr. D Dhanuraj, Chairman of CPPR, delivered the keynote address, highlighting the critical issue of unemployment among the youth. He noted that this pressing concern could be a significant factor in the current political climate. Dr. Dhanuraj further discussed the budget's provisions, such as internship opportunities and EPFO announcements, stressing that these measures are short-term solutions and may not sufficiently tackle the underlying unemployment challenges.
Industry Perspectives
P R Seshadri, Managing Director and CEO of South Indian Bank, offered his insights on the changing dynamics of political discourse, noting a positive shift in tone and tenure. He emphasised the budget's focus on urban renewal, which marks a departure from the earlier emphasis on rural development. According to Mr. Seshadri, this urban-centric approach could play a pivotal role in addressing brain drain, as improved urban liveability may encourage talent retention within the country.
Technology and Policy Challenges
Ashish Aggarwal, Head of Public Policy at NASSCOM, highlighted the crucial role of technology as a sector. He pointed out that, from a policy implementation perspective, there is a significant challenge in understanding technology, particularly in the e-commerce domain.
Taxation and Regulatory Insights
CA Sreejith Kuniyil, Managing Partner of CAPITAIRE, provided an in-depth analysis of the budget's taxation policies. He elaborated on the potential implications for businesses, underscoring the importance of understanding the nuanced changes in tax regulations introduced in the 2024-25 Union Budget.
Vivek George, AGM-WTC Kochi moderated the discussions.
The event concluded with remarks from Shwetha Pramod, Senior Executive, Communications and Customer Relations at Infopark, who summarised the key takeaways and expressed gratitude to all participants for their valuable contributions.
Four Points by Sheraton Hotel was the ''Hospitality Partner''.
