Elets National Revenue Summit Empowering India's Economy

India's GDP crossing the $3.75 trillion mark in 2023 is a testament to the country's determination and resilience. This exponential growth has catapulted India into the position of the world's fifth-largest economy, surpassing the UK and leaving behind several major economic powerhouses. It marks a significant achievement in India's economic progress and ushers in a new era of possibilities and opportunities. As the nation charts its course to prosperity, it is poised to make a lasting impact on the world stage and carve its place as an economic giant in the 21st century. To carry forward this growth trajectory, efficient revenue generation and management are paramount in today's rapidly evolving economic landscape. Recognising the significance of this crucial aspect, Elets Technomedia, in collaboration with the Government of Rajasthan (Finance Department) as the Host Partner, will be organising the Elets National Revenue Summit on 15-16th September 2023 in Jaipur. This two-day summit is designed to explore new-age solutions and best practices for optimising public sector finances across various revenue-generating departments of central and state governments.

Embracing the Future

The summit will revolve around the theme of envisioning revenue management in the present dynamic landscape. These themes will include optimising tax revenue collection through innovative approaches and addressing tax compliance challenges. Leveraging technology will be emphasised for efficient revenue management, employing data analytics for informed decision-making and transparency.

Additionally, the summit will explore combatting tax evasion, promoting voluntary compliance, and analysing the impact of sound revenue management on overall economic growth. Strengthening governance and transparency in revenue administration will be stressed for public trust. Collaboration between the public and private sectors will be explored to enhance revenue generation, while innovations in tax administration and policy development will be showcased to adapt to economic changes. Moreover, the role of Artificial Intelligence and Machine Learning in revenue intelligence and tax fraud detection will be highlighted.

The analysis will focus on the advantages and obstacles of digitising revenue systems for modernisation. Furthermore, emphasis will be given to nurturing human capital in revenue administration through skill development and capacity-building initiatives for professionals.

Key ministries and departments, such as Finance, GST, Mining, Stamp & Registration, Commercial Taxes, and Excise, will actively participate in the event. This diverse representation will facilitate comprehensive discussions and provide holistic perspectives on revenue management.

The?Elets National Revenue Summit?promises to be a groundbreaking summit that will shape the future of revenue generation and management in the country's dynamic economic landscape. By fostering collaboration, sharing best practices, and harnessing technological advancements, the summit aims to contribute significantly to India's economic growth journey.