The Embassy of India and the Indian Business and Professionals Council (IBPC) Qatar have jointly hosted an expert-led virtual discussion on India’s Union Budget 2022.
The event gathered participants from Qatar and India, as well as other GCC countries.
Dr Deepak Mittal, India’s ambassador to Qatar, noted that the budget focuses on four pillars: inclusive development, productivity enhancement, energy transition, and climate action.
He also elaborated on how it would help India to continue its growth story.
Sameer Narang, head of the Economic Research Group, ICICI Bank, led the first session, while Dr V K Vijayakumar, chief investment strategist of Geojit Financial Services, led the second session.
Both discussions were moderated by Thaha Mohamed Abdul Kareem, a Harvard alumnus and member of IPBC’s board of governors.
Narang’s session focused on revenue, expenditure, deficit, and the budget’s impact on different sectors.
He expressed optimism that actual revenues would exceed the conservative revenue expectations.
He highlighted the big boost given in the budget for capital expenditure, which would be used for infrastructure development, and also discussed the government’s plans for digital currency.
Vijayakumar 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.
He lauded the finance minister for coming up with a budget that focuses on long-term growth instead of a populist budget, especially with the upcoming elections in five states in India.
While he was optimistic about India’s growth prospects, Vijayakumar emphasised the need to keep the growth momentum sustainable amidst many challenges, especially in the unorganised sector.
IBPC is planning to organise more similar beneficial programmes for its members.
IBPC is the preferred platform to empower Indian businesses and professionals by creating enrichment opportunities and enhancing Indo-Qatari trade and professional relations, according to a statement.
The event gathered participants from Qatar and India, as well as other GCC countries.
Dr Deepak Mittal, India’s ambassador to Qatar, noted that the budget focuses on four pillars: inclusive development, productivity enhancement, energy transition, and climate action.
He also elaborated on how it would help India to continue its growth story.
Sameer Narang, head of the Economic Research Group, ICICI Bank, led the first session, while Dr V K Vijayakumar, chief investment strategist of Geojit Financial Services, led the second session.
Both discussions were moderated by Thaha Mohamed Abdul Kareem, a Harvard alumnus and member of IPBC’s board of governors.
Narang’s session focused on revenue, expenditure, deficit, and the budget’s impact on different sectors.
He expressed optimism that actual revenues would exceed the conservative revenue expectations.
He highlighted the big boost given in the budget for capital expenditure, which would be used for infrastructure development, and also discussed the government’s plans for digital currency.
Vijayakumar 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.
He lauded the finance minister for coming up with a budget that focuses on long-term growth instead of a populist budget, especially with the upcoming elections in five states in India.
While he was optimistic about India’s growth prospects, Vijayakumar emphasised the need to keep the growth momentum sustainable amidst many challenges, especially in the unorganised sector.
IBPC is planning to organise more similar beneficial programmes for its members.
IBPC is the preferred platform to empower Indian businesses and professionals by creating enrichment opportunities and enhancing Indo-Qatari trade and professional relations, according to a statement.