Discussion on Budget Analysis Held at UCCI

(mohsina bano)

Udaipur – The Udaipur Chamber of Commerce and Industry (UCCI) organized a seminar on "Critical Analysis of the New Direct Tax Code, Central and State Budget 2025-26" at the Pyrotech Tempsons Auditorium. Supreme Court advocate and chartered accountant Sanjay Jhanwar, along with senior tax consultant from Jaipur, Nikhil Totuka, were the subject experts for the seminar.

UCCI President M.L. Lunawat welcomed the experts and participants, highlighting that the government has implemented UCCI's suggestion to establish an "Institute of Mines" for mineral research in Udaipur. Several industry-related recommendations from UCCI have been incorporated into the budget, providing relief to the manufacturing sector.

Chairman of UCCI’s Finance and Taxation Sub-Committee, CA Ashish Ostwal, conducted the program and introduced both experts.

During the seminar, Sanjay Jhanwar presented insights on "How to Increase Wealth in Business" through a slide show. He emphasized that more attention should be given to the economic survey rather than the budget. He stated that the current period is a golden era for industries and businesses, as India has become the world's fifth-largest economy and is on track to surpass Japan and Germany to become the third-largest economy. He added that by 2047, India's goal of becoming a developed nation will depend more on per capita income rather than GDP. He also noted that the country's economy will be driven by the purchasing power of the younger generation.

Senior tax consultant Nikhil Totuka provided insights into key amendments in the Finance Bill 2025, stating that the government aims to simplify tax regulations as much as possible.

During the Q&A session, experts addressed various budget-related queries from the participants. The event witnessed participation from senior managers in accounts and finance, chief executives, entrepreneurs, tax consultants, chartered accountants, import-export firms, and business representatives.

The seminar concluded with a vote of thanks by Honorary Secretary Dr. Pawan Talesara.