Union Budget, 2021-22: Positive and Digital Plus
Hon’ble FM Shri Nirmala Sitharaman presented the Union Budget for 2021-22 today.
Bombay Chamber lauds the FM on a pragmatic Budget, given that the FM has found resources for capital expenditures, even in a situation where the revenue stream improves but still remains restrictive. Given the pandemic aftermath, it was imperative that government leads from the front and plays a bigger role in propelling the economy ahead. The government has not shied away from borrowing big and spending big. Further, there were fears that the FM might opt for an increase in taxes at the individual level. While the FM has targeted some revenues by imposing a cess on petrol and diesel to fund agricultural infrastructure, there has been no additional taxes on individuals. Gross fiscal deficit as a proportion of GDP is placed at 9.5% for FY21 and is expected to do down to 6.8% in FY22. FM has heeded the clarion call in the Economic Survey to disregard naysayers and global rating agencies and go big on spending even at the risk of higher fiscal deficits. This shows the confidence Government has in rebound of the Indian economy and it is now up to the private sector to take the gauntlet and go for aggressive growth.
Overall, the Bombay Chamber of Commerce believes that the Union Budget will enable India to achieve its long-term growth potential, while alleviating and addressing the short-term risks. Importantly, the chamber had submitted in its recommendations to the FM under its Pre-Budget Memorandum for FY22 the ideas of an accelerated disinvestment programme, a Bad Bank structure and the institution of a DFI. The FM has struck a crucial balance between needs of capital investment for infrastructure and social issues such as inclusive development, with a focus on education, needs of migrant workers, skilling needs and financial inclusion.
Bombay Chamber of Commerce & Industry presents Breaking Silos: People, Power, and Purpose in Dynamic Times
Reputation Today :
For organisations to grow, it is imperative for new skills to emerge and specialise in their disciplines. It is also natural for these disciplines to subsequently diverge and ultimately fragment into silos. How do these silos influence an organisations ability to grow further? To respond to changes? What is the impact of organisational purpose, and the implications on brand communications?
City Air News :
Mumbai, May 28, 2019: Bombay Chambers of Commerce & Industry (BCCI), the apex industry body is hosting the first strategic conclavein the financial capital of India on June 14, 2019 to have industry stalwarts, brand strategists, to share insights on brands that have delivered value in dynamic times. The discussion will focus on the importance of having $B!F(JOne Voice$B!G(J, for succeeding in achieving an organization's vision
Business Fortnight :
The event, "Breaking Silos: People, Power, and Purpose in Dynamic Times" will have industry leaders and veterans who have ensured collaboration and proactive communication with all stakeholders, to build powerful brands.
"The Conclave is aimed at leaders and millennials from diverse functions who are instrumental in envisioning the core vision of the organization. This is the first time that BCCI has created a platform, to share experiences of industry leaders, on the importance of communication, and will focus on training future leaders on the essentials" said Ms. Leena Basrur, Chairperson, Media Corporate Communications & Public Relations Committee (MCCPR) and Direxions Marketing Services Pvt Ltd.
MMMC, High Court, Bombay has empaneled Centre For Mediation And Conciliation (CMC) as a Mediation Institution Jan 01, 2019
MMMC, High Court, Bombay has empaneled Centre For Mediation And Conciliation (CMC) as a Mediation Institution’in pre-institution mediation and settlement as per Sec.12 (A) of the Commercial Courts Act 2015.
Bombay Chamber Of Commerce And Industry Launches Its Centre For Mediation And Conciliation, 29 June, 2018
Chamber has set up its Centre for Mediation and Conciliation (CMC), under the guidance of the Bombay High Court, to provide commercial dispute mediation services nationwide. Some mediators on their panel include Hon’ble Justice B. N. Srikrishna, Hon’ble Justice Kanade, Mr. Bill Marsh from United Kingdom, Mr. Jeremy Lack from Switzerland, Mr. Prathamesh Popat from Mumbai, Mr. Sriram Panchu and Mr. A Jawad from Chennai and Ms. Ekta Bahl from Samvad Partners Hyderabad, Ms. Lalit Mohini Bhat from New Delhi.
Union Budget, 2018-19 : Positive and Digital Plus
The 2.5 trillion dollar Indian economy is now on its way to become the third largest economy in terms of purchasing power parity (PPP). It is in this backdrop, Hon’ble FM Shri Jaitley presented his Union Budget for 2018-19 today. Bombay Chamber lauds the FM on an insightful Budget, which the Chamber believes will boost the economy in the coming years.
The three key elements of this year’s Union Budget are strengthening agriculture, infrastructure and healthcare benefits. Bombay Chamber welcomes the focus on MSMEs, Taxation and Credit availability as well. Shri Vijay Srirangan, Director General, Bombay Chamber stated that they are positive steps. The concern, however, was use of employment versus automation in the MSMEs sector. The focus on Digital, including AI, Big Data, Cyber Securities, introduction of Unique Id for enterprises are excellent moves in the right direction and expected to contribute towards the growth of the economy.
Since the manufacturing sector is back on growth path and the MSMEs sector gets significant amounts in the form of capital support and interest subsidy in this Budget, the Chamber does expect that by increasing public and infrastructure investment and through increase of fiscal deficit, the economy will boost the aggregate demand in the near future.
