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1. Retirement Planning & Succession: CA Harshal Muttha
2. Basics of Capital & Revenue Budgeting: CA Jayesh Jain

26 November 2021

Resource Person: CA Harshal Muttha and CA Jayesh Shah

This session was conducted as part of a Financial and Tax Literacy Drive of ICAI. The aim of the session was to enable students to understand the concept and working of a budget with the latest updates and practices in the financial sector. CA Harshal Muttha stressed upon the various aspects of a budget and delved deeper into why it is needed and how it helps in predicting the future financial position of the company. Further, he said that at individual level and for every organization, success is dependent upon the budget, hence proper preparation of budget is an important task in any organization.
CA Jayesh Jain explained the importance of retirement planning and emphasized that retirement planning is
· saving and investing the investible amounts;
· in various financial assets;
· to fund the life post-working phase;
· and maintain a certain level of lifestyle.

He said retirement planning is necessary to secure one’s future and one should start it in his/her early age. He discussed about the various types of financial products to invest in for retirement planning such as NPS, PPF and Mutual Fund. In addition, he said while planning for retirement one should identify goals and link investments and plans with these goals. It is also important to take into consideration monthly expenses, inflation and increase in salary over the years.
He explained succession planning as a method of transferring leadership duties, such as firm ownership, to an individual or group of employees. Succession planning guarantees that a company’s operations continue to run efficiently after most key members retire or leave

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