Chartered Accountant V. Bhagyateja was speaking at a discussion on the Union Budget organized by the Public Relations Society of India (PRSI) in Tirupati on Monday. | Photo credit: KV Poornachandra Kumar
Speakers at the Union Budget 2026 debate conducted by the Public Relations Society of India (PRSI), Tirupati Chapter on Monday (February 2, 2026) appreciated the Union government’s support for the growth of the micro, small and medium enterprises (MSME) sector in the budget proposal.
Renowned Chartered Accountant V. Bhagyateja termed the establishment of a ₹10,000 crore Growth Fund to support small and medium enterprises and the plan to set up institutions under the ‘Corporate Mitras’ initiative to develop professionals to assist businesses as breakthroughs.
Measures have been taken to provide financial support to small and medium enterprises through the Trade Receivables Electronic Discounting System (TreDS), enabling faster liquidity against invoices, he said.
While highlighting the tax provisions, Mr. Bhagyateja said cash deposits exceeding ₹10 lakh in a savings bank account could be subject to tax scrutiny and also advised individuals to use their credit cards only up to amounts within their declared income to avoid future complications.
“Similarly, rental income up to ₹12,000 per annum is exempted from TDS and tax concessions have been extended to tours to encourage tourism,” he added.
SVU professors G. Anjan Babu (Computer Science) and K. Jayachandra Reddy (Commerce) spoke of a significant allocation of funds for the production of chips, software and hardware in an effort to reduce dependence on foreign countries and promote self-sufficiency.
PRSI Tirupati Chapter President GS Prasad presided while Secretary Dudyala Chandramohan proposed the vote of thanks. National Council Member K. Srinivasa Rao, Executive Member C. Swarajyalakshmi and writer RCK Raju were present.
Published – 02 Feb 2026 20:18 IST