CA. B. Subramanyam
At the outset, I express my deep feelings of gratitude towards all the Past Presidents, senior members and members of the Bar Association who have reposed confidence on me and newly elected members of the Governing Body. I feel privileged to hold the baton of Presidentship of this esteemed organization for the 2019-20. While recognizing the confidence reposed on us, we are also aware of the onerous responsibility resting on us. It shall be the Endeavour of my team to come to the expectations of the members, in keeping with high standards set by my predecessors and their team. I extend congratulations from the bottom of my heart to the immediate Past President CA. Sunil Kumar Agrawal and his entire team for a very successful and vibrant tenure of 2018-19 and taking to our Bar at its new peak.
On 5th of July, 2019, the whole Nation would be applauding the first lade Finance Minister of India presenting the Union Budget in Parliament. After the landslide victory of the BJP in the latest general elections there are lot of expectations of the people of the country from the Finance Minister to be fulfilled in this budget. Economic reforms, tax relief, simplification of corporate tax structure have been an age old demand that people want to be met in the Union Budget 2019. There are lot of expectations from the new Finance Minister that the basic slab rate and the exemption limit under the Income Tax Act shall be revised giving relief to the tax payers in the scenario of inflation. Special attention needs to be given to the real estate sector which is facing a lot of difficulties. The Finance Minister shall have a tough time in as much as she shall have to, on one hand try to fulfill the expectations of the people in general and on the other hand, take measures for the increase in the revenue collection as well as for the economic growth of the country. So far as the Goods & Services Tax is concerned, lot needs to be done to simplify the procedures as well as lowering the tax rates.
New sub-committees have been formed and the details of membership of such committees shall be updated in the website soon. I am confident and trust that, under the leadership of the respective chairman, the sub-committees would work efficiently, which will be a big help to the Governing Body of the Bar Association.
We have faced a very severe summer temperature this year and monsoon is looking weak. Our economy depends to a large extent on monsoon and therefore, it is essential to have good rains. I pray to Almighty for bestowing his grace by way of good monsoon.