Finance

A Memorandum of Understanding (MoU) was signed between Standing Conference of Public Enterprises (SCOPE) and the Institute of Cost Accountants of India for a Knowledge partnership facilitating capacity enhancement programs, research & studies, sector-specific skilling initiatives, etc. The MoU was signed by Shri Atul Sobti, Director General, SCOPE, and CMA Vijender Sharma, President, The Institute of Cost Accountants of India in the presence of Members of SCOPE Committee on Financial Management, senior officials of the Institute and SCOPE.

Elucidating the announcements of Union Budget 2023, Standing Conference of Public Enterprises (SCOPE) organized a session with economic, financial, and taxation experts on ‘Decoding the Union Budget 2023’ in hybrid mode. Prof. N. R. Bhanumurthy, Vice-Chancellor, Dr. B. R. Ambedkar School of Economics University, Bengaluru; Shri Atul Sobti, DG, SCOPE and CA Pramod Jain, Council Member, ICAI addressed the program.  A comprehensive presentation on various aspects of the Budget including new provisions and amendments in taxation was made by senior partners and subject matter experts from Deloitte. Over 200 participants, including board members and senior officials from PSEs, attended the program through both physical and virtual mode including SCOPE’s various social media platforms.

Explaining the macroeconomic aspect of the budget, Prof. N. R. Bhanumurthy stated that by laying focus on various aspects of the nation’s growth the budget provided a prudent fiscal consolidation roadmap for the country. He appreciated the budget in prioritizing capex while providing tax relief to boost consumption in the economy. He also highlighted the need to give due attention to the necessary reforms and incentives in the agriculture sector.

Shri Atul Sobti, while hailing the Budget announcements made by Union Finance Minister, said that the budget focusing on all segments of the industry is indeed a 'budget for all'.  He appreciated the infrastructure focus of the budget and highlighted the role of the Public Sector Enterprises in meeting the desired infrastructure spending given their significant presence in strategic sectors of the economy.

CA Pramod Jain in his address was also appreciative of the budget and highlighted the focus of the budget on MSMEs and start-ups that would give the necessary push to the manufacturing sector in the country. He also highlighted the intent of the Budget to make India a hub of both manufacturing and tourism, which will lead to overall economic growth.

SCOPE (Standing Conference of Public Enterprises), apex body of Public Sector Enterprises compliments the Hon’ble Finance Minister in presenting a “growth-oriented inclusive budget for all” with impetus on infrastructure strengthening, green environment and skill development, while maintaining fiscal consolidation. While appreciating the Budget, Mr. Atul Sobti, Director General, SCOPE said that the Budget is likely to have a multiplier effect in both social and economic sectors. “Overall, a positive budget which is likely to give the necessary push to the country for a global role through landmark outlay for infrastructure strengthening, new schemes, incentivising domestic industries, focussing on inclusive development, impetus on skill development, moving towards simplifying regulations for ease of doing business and green initiatives leading to a net zero economy”, he added.

“Aiming to be an outcome-based MoU, this collaboration will focus on providing research work in innovative practices and business solutions to PSEs while providing industrial facilitation by way of clarifications on accounting treatments and policies,” said Mr. Atul Sobti, Director General, SCOPE during the signing of Memorandum of Understanding (MoU) between Standing Conference of Public Enterprises (SCOPE) and the Institute of Chartered Accountants of India (ICAI) for capacity enhancement and knowledge building of PSEs in India.

The MoU was signed by Shri Atul Sobti, DG, SCOPE and Dr. Jai Kumar Batra, Secretary, ICAI in the presence of Members of SCOPE Committee of Financial Management, Mr. Subodh Gupta, Director (Finance), BHEL; Mr. R.P. Goyal, Director (Finance), NHPC; senior officials of ICAI and SCOPE.

The MoU is in continuation of SCOPE’s endeavours to provide PSEs with opportunities for capacity building in resilience and expertise through enhancement of knowledge, skills, and expertise.

Unravelling the Union Budget 2022, Standing Conference of Public Enterprises (SCOPE) organised a webinar on ‘Decoding the Union Budget 2022.’ Prof. N. R. Bhanumurthy, Vice-Chancellor, Dr. B. R. Ambedkar School of Economics University, Bengaluru; Mr. Atul Sobti, DG, SCOPE and Mr. S. Sakthimani, Director (Finance), FACT, addressed the webinar. A comprehensive presentation on various aspects of the Budget was shared by senior partners and subject matter experts from Deloitte. About 400 participants, including board members and senior officials from PSEs attended the webinar through SCOPE’s various platforms.

Addressing the participants, Prof. N. R. Bhanumurthy deliberated upon the macro perspectives of the Budget and said it unveils a roadmap of the economy for the next 25 years with renewed impetus to growth and development issues. He also spoke about the strategic role of PSEs in achieving sustainable growth and making the nation a 5 trillion economy.

Calling the budget growth centric, Mr. Atul Sobti said that as the focus of the Budget this year is on infrastructure development, digital ecosystem, skill development, energy transitions, and Ease of Doing Business 2.0, PSEs being present in core sectors will act as catalysts in the overall growth of the economy. He also added that SCOPE will continue to make concerted efforts to offer a platform for dialogue and capacity building for PSEs.

Mr. S. Sakthimani, in his address, while appreciating initiatives undertaken by SCOPE, emphasized that PSEs can be strategic partners in the country’s high trajectory growth by propelling digitalisation and start-up ecosystem.

SCOPE (Standing Conference of Public Enterprises), apex body of Public Sector Enterprises compliments the Hon’ble Finance Minister in presenting a visionary & progressive budget focussing on the long-term agenda of growth by developing an international infrastructure through ‘new-age’ announcements. While appreciating the Budget, Mr. Atul Sobti, Director General, SCOPE said that the Budget is inclusive and has given the right impetus to infrastructure while balancing it with penetration and building new digital ecosystem. “Overall, a futuristic budget with increased capex, new schemes, incentivising domestic industries, impetus on digitalisation and skill development, thereby bolstering the upward trajectory of growth”, he added.

8th February, 2021

Mulling over the impact of the Union Budget 2021, Standing Conference of Public Enterprises (SCOPE) organised a webinar on ‘Decoding the Union Budget 2021.’Prof. N. R. Bhanumurthy, Vice-Chancellor, Bengaluru Dr. B. R. Ambedkar School of Economics University; Mr. Rakesh Kumar, CMD, NLCIL & Chairman, SCOPE and Mr. Atul Sobti, DG, SCOPE addressed the webinar. Detailed presentation on the impact of the Budget provisions was made by senior partners and subject matter experts from Deloitte.About 500 participants including board members and senior official from PSEs attended the webinar through SCOPE’s various platforms.

Addressing the participants, Prof. N. R. Bhanumurthystated that the Budget will accentuate the growth by invigorating the economic and infrastructural developmentof the country. He said that fiscal policy shall take a lead to enable overall macroeconomic stability of the country.

In his address, Mr. Rakesh Kumarsaid that the Budget stimulates strategic sectors and reflects on renewed impetus to green initiatives. While highlighting key aspects of the Budget, he reiterated on the constructive role of PSEs in the overall economic development of the country.

DG, SCOPE while appreciating the Budget said that infrastructure, social sector and policy reforms shall prove catalytic for growth. He added that in light of ease of doing business and conciliation mechanism announced, SCOPE Forum of Conciliation and Arbitration (SFCA)can play an important role in the new landscape.

1st February, 2021
SCOPE (Standing Conference of Public Enterprises), apex body of Public Sector Enterprises believes that announcements by the Hon’ble Finance Minister shall pave way for a faster rebound of the Indian economy on the growth path.Mr Atul Sobti, Director General, SCOPE said that the Union Budget shall further affirm the positive boost to the previous reforms announced by the Government. He complimented the Budget proposals giving thrust to AtmaNirbharta mission by focussing on critical growth sectors like infrastructure, power, roads, ports and health. Government has given much needed boost to Indian economy to retrace the development path and reposition it on the global map, he added.

4th February, 2020

SCOPE organized program on “Implications of Union Budget 2020” to familiarize Public Sector executives about the Budget, which was also Webcast live. Mr. Atul Sobti, Director General, SCOPE, Mr. S.K. Gupta Director (Finance), IOCL ,Prof. N.R. Bhanumurthy of National Institute of Public Finance & Policy and Mr. Sumit Singhania, Partner, Deloitte Touche Tohmatsu India LLP. addressed the inaugural session.

Mr. Atul Sobti, DG, SCOPE in his address appreciated Government’s strong impetus to both investment and consumption - the key drivers in boosting the economy. Calling the budget inspirational, Mr. Sobti said the focus on all sectors has given Public Sector Enterprises (PSEs) a more imperative role in contribution to the overall economy.

Mr. Gupta, Director (Finance), IOCL laid emphasis on Direct and Indirect Taxes as tax management is a very important topic leading to savings in organisations.

Prof. Bhanumurthy gave the macro perspective of the Budget and said that it addressed several issues while aiming to make India $5 trillion economy. Deloitte Touche Tohmatsu India LLP., the knowledge partner of the program gave presentations on various aspects of Union Budget 2020 during the program, which was attended by a large number of senior officials of PSEs.

December 3, 2019

Standing Conference of Public Enterprises (SCOPE) in association with The Institute of Company Secretaries of India (ICSI) organized an Interactive Program on “Recent Changes under the Companies Act 2013”. Mr. Ranjeet Pandey, President, ICSI, Mr. Atul Sobti, Director General, SCOPE and Mr. S. Sakthimani, Director (Finance), CCI addressed the inaugural session. The session was attended by a large number of senior executives from over 50 public sector enterprises from across the country.

Mr. Ranjeet Pandey, President, ICSI discussed the way process for good corporate governance in PSEs. He focused on the usage of artificial intelligence in the compliance management as well as compliance monitoring.

Mr. Atul Sobti, DG, SCOPE mentioned that the new Companies Act makes the corporate model citizens of the country with equal importance to ‘good’ profit and governance. He outlined that amendments in the Companies Act attempts to strike a balance between ease of doing business and corporate governance.

Mr. S. Sakthimani, Director (Fin), CCI emphasized on rules and regulations relating to Companies Amendment Act, 2019 including independent directors.