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Yesterday, I attended a budget review session hosted by the American Chamber of Commerce (AMCHAM) and the US India Business Council. All the Big 4 Accounting Firms (Deloitte, E&Y, KPMG and PWC) where present in full form to give their opinions on BUDGET 2010. In terms of background, I know nothing about the Indian budget since I have only moved back to India a year ago. But with all the hoopla surrounding the topic, I also thought that I should be well informed and decided to sit through the three hour session, mostly yawning.
Here is what I got from the speakers in terms of the goals for the BUDGET 2010
It was quite simple, that the intent of the budget from a cost (expenditure) prospective was an increase of 15%. So what are the sources of revenue that will help us meet these increased expenditures …. Taxes.. taxes and of course divestments , plus the much awaited 3G auction.
All in all, the thought of Big 4 Accounting firms was as follows:
Nothing more, nothing less.
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