ANALYSIS OF UNION BUDGET 2024

Chennai, 2nd February 2024: The Southern India Regional Council of The Institute of Cost Accountants of India (SIRC of ICMAI) and the All India Tax Payers’ Association (AITPA) jointly organized a meeting on Analysis of Union Budget on 1st February 2024 held at Vani Mahal, T.Nagar, Chennai – 600 017.

Dr. CMA. CA. V. Murali, Central Council Member, ICMAI and President, All India Tax Payers’ Association, praised the proposals contained in the budget for prudent and robust fiscal management, strategic sectoral allocations and simplification of the tax regime. Mr. Murali lauded the Hon’ble Finance Minister for laying special emphasis on Infrastructure Development and allocation of funds for Capital Expenditure.

Dr. CA. Abhishek Murali, Former Secretary SIRC of ICAI delivered a thread bare analysis of the budget presented by the Hon’ble Finance Minister and appreciated its proactive role in fostering economic growth and inclusive development. He further stated that the Withdrawal of Old Tax dues introduced this budget is a game changer for many individuals who were affected by this.

CMA. Divya Abhishek, Chairperson of the SIRC of ICMAI emphasised collective optimism towards India’s economic trajectory post-budget and underscored the key role the Hon’ble Prime Minister and Hon’ble Finance Minister in driving India towards becoming a $7 Trillion Dollar Economy. The chairperson further focussed the various proposals which would benefit immensely Indian Insustry and MSMEs.