Elucidating the announcements of Union Budget 2024, the Standing Conference of Public Enterprises (SCOPE) organized a session titled ‘Decoding the Union Budget 2024’. The event, held in association with the Institute of Chartered Accountants of India (ICAI) and Deloitte, featured addresses from prominent figures including Prof. N. R. Bhanumurthy, Eminent Economist; Shri Atul Sobti, DG, SCOPE; and CA Anuj Goyal, Central Council Member, ICAI.
A detailed presentation covering various aspects of the Budget, including new provisions and amendments in Taxation, was made by senior partners and subject matter experts from ICAI and Deloitte. Over 100 participants from different Public Sector Enterprises (PSEs) attended the program through a hybrid mode, which included SCOPE’s various social media platforms.
Delving deep into different aspects of the Budget 2024, Prof. N. R. Bhanumurthy noted that the Budget has balanced both the short-term as well as medium-term aspects of the economy. He highlighted the need to focus on reforms aimed at increasing productivity and implementing labor market reforms, which were seen as crucial for sustained economic growth.
Shri Atul Sobti termed the Budget 2024 as a ‘future-oriented Budget’, emphasizing its focus on long-term growth. He pointed out that the Budget has set priorities in key areas and that PSEs will play a critical role in these strategic sectors. According to Sobti, the contributions of PSEs will be instrumental in steering India towards becoming the third largest economy in the world. Meanwhile, CA Anuj Goyal appreciated the Budget’s announcements, noting its emphasis on providing more liberty to trade and industry, thus fostering a more conducive environment for economic expansion.
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