Event report • Committees • HR Focus
IFCCI HR Committee Session on Fiscal Focus: Union Budget 2024
IFCCI HR Committee in association with Sopra Banking Software and Trilegal organised a hybrid session on 8th August 2024.
IFCCI HR Committee Breakfast Networking Session on
Fiscal Focus: Union Budget 2024
IFCCI HR Committee in association with Sopra Banking Software and Trilegal successfully concluded an important knowledge session on 8th August 2024 on ‘Fiscal Focus: Union Budget 2024’ to understand the impact of this year’s Budget on Employers and Employees in individual capacities.
The Session began with Opening Remarks by Ms. Jyotsna Mansukhani, Head – HR & Recruitment Services, IFCCI, followed by a warm welcome by Ms. Natasha Singh, Head HR – India and China, Sopra Banking Software, to all physical and online attendees.
Ms. Parvathy Tharamel, Counsel – Labour & Employment, Trilegal initiated the session by leading the first segment and introducing the participants to the Union Budget 2024. She touched upon the approaches introduced by the GOI such as Employment linked incentive schemes, detailing their conditions, Skilling and Up-skilling initiatives and policies aimed at increasing Women's participation in the Workforce, such as setting up Government hostels and creche facilities.
Additionally, she also addressed the Skill Development programs, explaining that the Government aims to provide funds and loans for Employee trainings and skilling initiatives. She noted that CSR funds may also be used voluntarily by Organisations for upskilling their workforce. This was followed by a Q/A round.
The session then passed on to Mr. Charanpreet Singh, GM – Tax, Treasury and Risk Management India, Sopra Steria in India, who led an interactive session and covered key Tax regime proposals, including process simplifications, rationalisation of capitals gains, different income tax slabs, payroll tax implications, and the benefits employees can enjoy under the new Budget Plan etc.
Following the individual segments, the session moved on to the open Round-Table discussions which was skilfully led by Ms. Natasha Singh. The session was highly interactive and engaging and saw participation from top HR Leaders.
The Event was well appreciated for its relevance and ended with a Vote of Thanks to all the Speakers and Participants for their time, followed by Breakfast Networking at the premises of Sopra Banking Software.
