KNAV & Taxsutra - Analysis of Union Budget 2021-22
“To expect the budget to reverse the frightening trends (in poverty, unemployment, stagnation and inflation) is almost as reasonable as trimming a lawn with nail-scissors.”
– Nani Palkhivala on Taxation from The Wit & Wisdom of Nani A. Palkhivala by Jignesh Shah
The year 2020 has challenged us personally and professionally as the pandemic affected people across the world. We witnessed loss of lives, employment and other life-changing repercussions. Trillions of dollars have been pumped into markets in the form of stimulus by the governments globally. Indians have been promised by the Honourable Finance Minister Ms. Nirmala Sitharaman, a budget ‘like never before’ on Feb 1, 2021.
With unemployment at its peak, growth rate hitting the rock bottom, and businesses awaiting normalcy; the nation’s anxiety and restlessness deserves a prompt treatment and not a long-drawn therapy from the Finance Minister’s briefcase. Economists are expecting monumental changes in the budget like temporary suspension of the FRBM Act, relaxation for foreign investors, disinvestments, boost demand, incentivising consumption, stimulate economic growth, create employment, relief to MSMEs and smaller businesses… and we are just getting started.
Against this backdrop, KNAV in association with Taxsutra presented a unique webinar on “Post-Budget Analysis” where Vaibhav Manek, Uday Ved and Amitabh Khemka gave a surgical view of the Finance Bill, 2021 in the wake of Finance Minister’s speech.
The webinar was scheduled on 2nd February, 2021 at 9:30 AM IST.