CMS Business School, JAIN (Deemed-to-be University) hosted a competition on "Wearing Finance Minister's Hat" for colleges across Karnataka on 10th June 2023. The aim of the event was to predict the upcoming tax regime for the financial year 2024-25. The participating teams had to carve out the income tax proposals in detail for the FY 2024-25.

The competition was divided into 3 rounds, starting with a Prelims- Budget/IT quiz. In the next round the teams had to propose a new tax regime for the upcoming financial year. The last round was "Just a Minute" where students had to talk for a minute as the Finance Minister. All the rounds had rigorous brainstorming sessions and the budding minds shared their inputs and vision for the upcoming budget 2024-25.

On the basis of the three rounds, Sai Namratha Valluri of ISME, Bangalore was crowned the winner and was awarded a cash prize of Rs. 5000. Kalyan R Aithal of RVD, Bangalore came in at second place and received Rs. 2000 while three consolation prizes of Rs. 1000 each were awarded to Prajwal P R, Lavanya R, and Sai Krishna from RGICM-Dhavangere, DSCASC-Bangalore, and ISME-Bangalore respectively.

'Wearing Finance Minister's Hat' turned out to be an exciting event that brought together students from different colleges and universities. The event acted as a platform for the students to showcase their financial skills and propose Income Tax Proposals for the upcoming Union Budget 2024-25. The competition allowed the participants to analyse economic trends, fiscal responsibility, and social welfare to formulate comprehensive income tax regimes. Overall, the event was a success since students from various colleges got a chance to learn about the significance of the Income tax regime in the Indian socio-economic context.