The panellists included CA Arun Kumar Sabat, Founding Partner A.K.Sabat & Co., CA Bidhubhushan Nayak, Promoter Director, Sparsh Healthcare Group, Smt. Jayshree Mohanty, Co-founder, Luminous Infoways, and Dr. Pritish Kumar Sahu, Economist & Associate Professor, IMI Bhubaneswar.

Smt. Jayashree in her opening remarks, highlighted that the 2026 budget has been presented at a crucial time when India is balancing domestic growth with global economic uncertainties while striving toward long-term goals such as Viksit Bharat 2047 and regional milestones like Odisha Vision 2036.

During the discussion, CA Arun Kumar Sabat shared his experience of analysing budgets over several decades and reflected on how taxation policies have evolved in India. He noted that major reforms in direct taxation have already been introduced in recent years, particularly the expansion of the tax-free income threshold under the new tax regime. He also provided historical context by referring to the 1969 tax structure, where the highest tax bracket reached nearly 97.5%, which often encouraged tax evasion and the creation of black money. According to him, the current budget introduces relatively few but meaningful changes, including modifications in provisions related to TDS, TCS, and return filing procedures. He also pointed out that global geopolitical developments, currency fluctuations, and rising fuel prices continue to contribute to inflationary pressures, which he described as “taxation without legislation.”

CA Bidhubhushan Nayak focused on the constitutional and structural aspects of the Union Budget. He explained that the word “budget” itself is not explicitly mentioned in the Constitution of India; rather, Article 112 refers to it as the “Annual Financial Statement.” He also discussed the importance of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003, which ensures fiscal discipline in government financial planning. Highlighting the scale of the Union Budget 2026, he stated that its size is approximately ₹53.5 lakh crore, with around ₹12.2 lakh crore allocated to capital expenditure. This substantial allocation toward infrastructure and asset creation nearly 22–23% of the total budget reflects the government’s focus on growth, investment, and long-term economic development. He further emphasised that sectors such as manufacturing, agriculture, and services have been prioritised to generate employment and strengthen the economy.

Dr. Pritish Kumar Sahu described the budget as a roadmap that outlines the country’s long-term policy direction rather than simply a statement of revenues and expenditures. He explained that governments may not always have sufficient resources to directly support every sector; therefore, businesses and citizens must leverage the opportunities created by policy initiatives and infrastructure development. Addressing India’s fiscal position, he noted that borrowing is not necessarily negative if it is directed toward productive investments such as infrastructure, education, and capital formation. With India’s loan-to-GDP ratio estimated at around 50–55%, he emphasised that sustained economic growth and strategic investments can strengthen the country’s long-term economic capacity.

The panel discussion also highlighted the importance of infrastructure expansion, strengthening manufacturing and MSMEs, improving logistics and freight connectivity, and leveraging India’s demographic dividend through skill development. The speakers emphasised that strategic investments in sectors such as technology, semiconductors, and services will play a significant role in driving India’s economic progress. The session concluded with encouraging remarks from the panellists, who advised the students to remain aware of economic developments and align their skills with the evolving needs of the economy.  Prof. Shikta Singh proposed the Vote of Thanks.

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The esteemed speaker was Sri Pratik Oswal, who is the Founder & CEO of Glide Invest. Prior to this, he was heading operations and finance at a Series A Fintech startup in San Francisco, CA. The company was backed by prominent investors such as Y-Combinator, Khosla Ventures, Anthemis, Chicago Board of Exchange (CBoE) and many others, and provided automated wealth solutions to investment advisors and managed over $400 million in assets. Apart from Fintech, Pratik has experience working in Investment Banking, PE and Hedge Funds. He studied Math and Economics at Emory University (USA) and has an MBA from London Business School. He is a big believer in the power of compounding as well as the India growth story.

Prof. Praveen Mohanty moderated the session, which was highly interactive.

Key takeaways from the program:

1. To meet financial goals and to accumulate wealth, plan and save 20-25% of monthly income.
2. To diversify investments into multiple asset classes with high allocation to equity which has historically given highest long term returns.
3. To begin investing at an early age to benefit from the power of compounding,

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The Finance Minister presented the Union Budget 2020 amidst several challenges- unemployment, demand slowdown, India’s derailed economic growth- to name a few. The government tried addressing most of the issues dwindling growth but in an at tempt to address multiple themes, the budget missed out on the most important expectation- boosting demand.

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