Events

The session on the Union Budget of the current financial year provided participants with a clear understanding of the government’s fiscal framework, revenue sources, and taxation structure. The event commenced with a welcome address by Dr. Deepali Bhatnagar, Deputy Director, followed by an expert-led discussion by CA P. C. Parwal and CA Jagdish Somani.
The speakers explained the concept and size of the Union Budget, highlighting the government’s focus on reducing revenue expenditure to enhance capital expenditure. Detailed insights were shared on the sources of government revenue, including income tax, corporate tax, GST, borrowings, and non-tax revenues. The impact of the budget on key sectors such as health and education was also briefly discussed.
The session further covered important aspects of direct and indirect taxes, recent GST-related developments, Provident Fund provisions, buy-back of shares, and the classification of Income Tax Returns (ITR-1 to ITR-7). Overall, the event enhanced students’ practical understanding of the Union Budget and its implications for individuals, businesses, and the economy.