BCIC Organised Budget Analysis of the Union Budget 2022-2023

Bengaluru: Bangalore Chambers of Industry & Commerce organised a Post Budget Analysis of the Union Budget 2022 – 2023 presented by the Honourable Finance Minister today, Wednesday February 2, 2022. The session covered an in-depth analysis of the budget with Key Addresses by Mr. KR Sekar, President, BCIC & Partner Deloitte Touche Tohmatsu India LLP and Dr. MR Venkatesh, Advocate and Panel Discussion comprising of Mr. Kamal Bali, President and MD, Volvo Group, Mr. Vaitheeswaran, Vice Chairman and MD, Manipal Education and Medical Group, Mr. Siddharth Mittal, MD and CEO, Biocon Ltd, Mr. PV Srinivasan, Mentor, Indirect Taxes Expert Committee, BCIC and Partner and Chief Mentor, PVS Advisors and Mr. S Raja Gopalan, CFO, Microland.

During his address Mr. KR Sekar, President, BCIC & Partner Deloitte Touche Tohmatsu India LLP said, “The various initiatives taken by the Government and the increased infra spend and higher capital allocation will give impetus to Industry. Further commitment to buy 68% of Defence Production to buy from Domestic Companies and 28% of Defence Spend on R&D will boost the manufacturing sector. The government also understood the pain points of MSMEs. Sops to Start-ups and EODB 2.0 will help propel growth further. BCIC’s recommendation on surcharge levied on LTCG capped at 15%, was considered in the budget and huge opportunities in the technology industry are set to be created. BCIC’s recommendation on Tax administration, litigation management was also found in the budget and we at BCIC welcome it.” 

The panel session was moderated by Mr. Sunil Kumar Dhareshwar, Chairman, Direct Taxes Committee, BCIC and SVP and Global Head – Taxation – Infosys Ltd and Ms. Tapati Ghose, Co-Chair, Direct Taxes Committee, BCIC and Partner, Deloitte Touche Tohmatsu India LLP.