INSTITUTE OF Management Studies (IMS), DAVV, conducted a talk on ‘Union budget-06’ yesterday. International tax expert and IIM visiting faculty Mukesh Patel from Ahmedabad addressed the talk.
Patel spoke at length on issues related with the budget, namely the different types of revenue and expenditure and their classification. According to him the budget did not create any shock waves for taxpayers.
Patel said that the extension of farm credit to the tune of Rs 175 crore at reasonable interest rates of 7 per cent was a commendable feature.
Patel highlighted that though no changes were made in direct taxes, changes in taxes like VAT, STT and service tax would eventually affect the people.
The talk concluded with an interactive question-answer session. Nidhi Gupta conducted the event while IMS faculty Dr Rajnish Jain proposed the vote of thanks.