IBPC hosts discussion on Indian budget

The Embassy of India and the Indian Business and Professionals Council-Qatar jointly hosted an expert-led virtual discussion on India’s union budget 2022. It was well received by audience from Qatar and India, as well as other GCC countries.
Ambassador of India to Qatar His Excellency Dr Deepak Mittal who inaugurated the session, talked about the budget’s focus on four pillars of development — inclusive development, productivity enhancement, energy transition and climate action — and how they would help India to continue its growth story.
The session had two eminent speakers from India and was moderated by Thaha Muhammed Abdul Kareem, a Harvard alumnus and a member of the Board of Governors, IBPC. Thaha set the tone for the session by requesting the speakers to throw some light on how this budget sought to lay the foundation and give a blueprint to drive the economy over “Amrit Kaal” of the next 25 years.
Sameer Narang, Head of the Economic Research Group, ICICI Bank, led the first session which was focused on revenue, expenditure, deficit and the budget’s impact on different sectors. He was optimistic that actual revenues would exceed the conservative revenue expectations.
He also highlighted about the big boost given in the budget for Capital expenditure which would be used for Infrastructure development. He also commented on the government’s plans on coming up with a digital
The second session was led by Dr VK Vijayakumar, Chief Investment Strategist of Geojit Financial Services, who is known for his articles and sessions on economic issues which appear regularly in the print media and TV Channels. Dr Vijayakumar mainly focused on the current macros of India and the budget proposals relating to capex, growth orientation, assistance to MSMEs and welfare initiatives for the poor etc.
He appreciated the finance minister for coming up with a budget which focuses on long term growth instead of a populist budget especially with the upcoming elections in 5 states in India. Even though he was optimistic about India’s growth prospects, he reminded about keeping the growth momentum sustainable with many challenges which need to be overcome, especially in the unorganized sector.
Both sessions were followed up by a Q&A session which addressed the queries from audience, which was a clear indication of the interest generated by the speakers. Both speakers mentioned various facts, figures & policy initiatives that reiterated
India’s promising Growth Story.
IBPC plans to organize more such beneficial programs for its members. IBPC is the preferred platform to empower Indian Businesses & Professionals by creating enrichment opportunities and enhancing Indo-Qatari Trade and Professional Relations.