The Post Graduate Department of Commerce conducted live screening session on the Interim Union Budget for the students of M.Com Part I and II on 1st February 2024 . The live session was screened in the classroom T-304. The purpose of screening the session was to make the students aware about the upcoming budget.
The session started at 11.05 am with the Head of the Department, Ms Twinkle Fernandes greeting the students and giving them a small insight on the budget.
The live session started with the Finance Minister, Smt. Nirmala Sitharaman giving a brief report on the current economic status of India. The interim budget 2024 lays a solid foundation for Viksit Bharat, affirming the government’s vision of building a prosperous Bharat in harmony with nature, modern infrastructure and opportunities for all. It promises to empower the four vulnerable sections of society – the poor, the youth, farmers, and women folk, in order to realise India’s potential.
Promoting sustainable development in India has been the top-of-mind strategy of the Amrit Kaal wherein bold action towards climate change for realising our commitment to becoming ‘net-zero’ by 2070 were taken. It focuses on environment-friendly alternatives such as: 1 crore households will be able to obtain up to 300 units of free electricity per month, adoption of e-buses for public transport network, strengthening of the e-vehicle support system by supporting manufacturing and charging and launching of new scheme for bio manufacturing and bio-foundry to support environment friendly alternatives.
For the purpose of development of infrastructure and investment, three major railway corridor programmes will be implemented under the PM Gati Shakti with the aim to improve logistic efficiency and reduce cost. Foreign investments will be promoted via bilateral investments treaties and expansion of existing airports and comprehensive development of new airports will be initiated under the UDAAN scheme. In order to empower the youth and foster entrepreneurial aspirations, 1.4 crore youth will be provided training under the Skill India Mission and 43 crore loans have been sanctioned under the PM Mudra Yojana. The same tax rates for direct and indirect taxes, including import duties have been retained for the year 2024. The average processing times of returns have been reduced from 93 days (2013-14) to 10 days (2023-24) thereby resulting in faster refunds.
The session ended with a short question and answer around that was conducted by the teachers. The session ended at 12.15 pm. 78 students attended the session. Ms. Shine De Souza, student of M. Com Part-II has drafted the report.
