The ICSI jointly with its Northern India Regional Council organised a Post Budget analysis Programme on key impact of Union Budget 2016-17, at New Delhi recently. CA Girish Ahuja, eminent tax expert and CS Bimal Jain, expert on indirect taxes addressed the audience. The eminent experts enlightened the gathering more than 500 CS professionals on the various provisions made in this Union Budget.
CS Mamta Binani, president, ICSI, welcomed Union Budget 2016-17 and considers it reformist budget aimed at creating a strong base for economic growth. The budget is progressive and is setting fiscal discipline. It aligns various measures towards employment generation and has outlined an agenda for faster economic growth with special focus on areas demanding utmost attention viz, rural sector, agriculture, social security, health, education infrastructure, financial sector and entrepreneurship. The exemplary and proactive initiatives for social and financial sector make the Budget 2016-17 a progressive and visionary step towards Nation building.
Girish informed the august gathering that the budgetary proposals are built on transformative agenda standing on nine pillars, which could be regarded as facilitators to the various programs of national importance like start-up India, Digital India, Make in India, Smart India and Stand-up India. Ahuja also enlightened the audience on various provisions of Direct Taxes and Income Tax.
CS Bimal Jain, expert on indirect taxes applaud the commendable measures adopted with regard to promotion of entrepreneurship among SC, ST and women, providing enabling environment for start-ups, reduction of tax rates for start-ups, provision of compliant supportive environment for tax payers and reduction of tax litigation, development of infrastructure, Government contribution to employee pension scheme to incentivise job creation, strengthening of healthcare services, review of Fiscal Responsibility and Budget Management (FRBM) Act, proposed New Dispute Resolution Scheme, developing Governance capabilities of Panchayat Raj Institutions et al..