IBPC holds virtual discussion on India’s Union Budget 2022

IBPC holds virtual discussion on India’s Union Budget 2022

Doha

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