STATE TIMES NEWSRAJOURI: An interaction session on Union Budget 2020 was organized in the School of Management Studies, BGSBU, Rajouri. Prof. Naseem Ahmed, Dean of the set the context of the theme. He mentioned about the three prominent theme dedicated to Ease of Living viz. Aspirational India, Economic Development for all and A Caring Society. He also highlighted on issues related to tracking the various macroeconomic indicators for achieving the target of 5 trillion economy. He said that The major focus of Union Budget 2020 is on reviving the Indian Economy in this fiscal through changes in Income Tax Slabs, taxation reforms, policy changes for Real Estate Sector, the resurgence of Automobile Sector, encourage privatization in CPSEs, boost for MSMEs and banking sector reforms amongst the many. He also spoke on the sectoral allocation in Agriculture, Healthcare, Infrastructure, education and Skill development, Culture and Tourism . Prof. Naseem said that the pivot of the budget is on generation of employment and inclusive growth through increased expenditure on rural economy, infrastructure and MSMEs. With16 steps for improving the conditions of agriculture and irrigation, government has allocated about 5% of the total budget to these activities. He said that another major development is proposed in the Infrastructure sector which is set to receive a boost, with 100 more airports by 2024 to support Udaan scheme, and operation of 150 passenger trains to be done through PPP mode Prof. Naseem highlighted the various provisions proposed by the government under new tax regime and made a comparative analysis of old and new tax regime. The discussion covered issues like new rules under New TCS & TDS Provision, Impact of new tax slab of Personal taxation, effect of Dividend distribution tax, changes proposed for society and trusts taxation, implications of reduction in number of deductions available etc. The session was followed by Q&A. Faculty members, research scholars and students of the school were present on the occasion.
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