Amcham Eastern Chapter Live Budget Viewing

 

Amcham Eastern Chapter in Association with EY as their Knowledge Partners organized The Live Viewing & Interactive Session on Budget 2015 on 28 February 2015 at The Bengal Club.

 

The session started with live viewing of the Budget 2015 speech delivered by Finance Minister Mr Arun Jaitley by the Amcham members and EY representatives.

 

Post joint live viewing of Budget 2015 speech, opening remarks on the Budget proposals was given by Mr Suranjan Bhanja, Chairman, Amcham Eastern Chapter followed by comments given by Mr Gulshan Sachdev, Vice Chairman NEB from a macro economy perspective.

 

This was  followed by debrief on the tax proposals and its relevance in achieving the Modi’s Government larger objective of “Make in India” campaign and emergence of GST regime given by Dinesh Agarwal, Partner, Tax – EY & Vice Chairman, Amcham Eastern Chapter and Avisekh Jaiswal, Senior Manager, Indirect Tax.

 

Mr Dinesh Agarwal also discussed the Finance Minister’s initiatives to achieve long-range growth of Indian economy by ease of doing business in India, job-creation for youth, simplifying tax and regulatory compliances and stringent actions for curbing the black-money practice in India.  It was also highlighted that the Finance Minister has strived to achieve balanced budget by emphasizing the education and health care, promotion of agriculture and the encouragement of rural and semi-rural economy.  The initiative to encourage participation of foreign institutional investor by exempting them from minimum alternate taxation was also appreciated.  However, the clarity was required in respect of application of MAT provisions in earlier years for FIIs not having Permanent Establishment in India.

 

Subsequently, the Amcham Members, Invitees and EY representatives jointly shared their insights on various aspects (viz. industry specific analysis) of the Budget proposals.  The interactive session was followed by Vote of Thanks from Mr Ashish Sen, Executive Director, Acclaris Business Solutions Pvt Ltd and lunch.