Industry upbeat about budget proposals

Shri Pramod Chandra Mody, Chairman, Central Board of Direct Taxes (CBDT), Government of India while speaking at PHD Chamber’s Post Budget Interactive Session stated that the taxpayers‘ charter announced in the Budget will have a statutory status and it will empower citizens by ensuring time-bound services by the Income Tax Department. He highlighted that the taxpayers‘ charter will boost the confidence of taxpayers. He shed light on the “Vivad Se Vishwas Scheme” and said the scheme offers to settle pending direct tax-related disputes. The scheme aims to resolve 4,83,000 direct tax-related disputes pending in various appellate forums.

Dr D K Aggarwal, President, PHD Chamber in his remarks mentioned that the Union Budget 2020-21 presented by the Hon’ble Finance Minister Smt. Nirmala Sitharaman is a dynamic budget for the sustainable growth of the country. The fiscal deficit at 3.5% of GDP in FY2021 is also in line with the expectations and we look forward to Government remaining strict to maintain fiscal consolidation at this level. He highlighted that the abolition of DDT is highly encouraging and it will further make India an attractive destination for investors.

 Shri Sanjay Aggarwal, Senior Vice President, PHD Chamber mentioned that the budget allocation of about Rs 69,000 crores for the health sector and other supportive measures for bringing Ease of living for every citizen is highly encouraging. He accentuated that investment in nursing, paramedics and medical training is required at a large scale to improve the health sector for the citizens of our country.

The other dignitaries who have attended the Session includes Shri Pradeep Multani, Vice President, PHD Chamber; Shri Kamlesh C Varshney, Joint Secretary (TPL) – ICentral Board of Direct Taxes, Government of India; Shri Mukul Bagla, Chairman, Direct Taxes Committee, PHD Chamber;  Shri Bimal Jain, Mentor, Indirect Taxes Committee, PHD Chamber; Shri N K Gupta, Chairman, Indirect Taxes Committee, PHD Chamber ; Shri Rohit Jain, Partner, Vaish Associates Advocates and Shri Sanjiv K Chaudhary, Tax Partner, BDO India LLP.


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