Budget 2012: The tax wishlist

The Union Budget is just around the corner. Debt and taxes are inevitable. For a Finance Minister, Finance Ministry and the economy, which is facing a huge deficit in terms of revenue and obviously political pressures to hand out more to the voting classes, this perhaps must be a very trying time, when he is putting the final touches to his Budget speech.

In an interview to CNBC-TV18, a very esteemed and distinguished panel including Nishith Desai, founder of Nishith Desai Associates (NDA), Parthasarathi Shome, director and chief executive officer of ICRIER, Shyamal Mukherjee, the joint tax leader at PwC India and Satya Poddar tax partner at Ernst & Young discuss taxes as part of Budget agenda 2012. Below is the edited transcript of the interview. Also watch the accompanying videos. Q: What are your key expectations from the Budget? Desai: There are three expectations. One, the government should deal with corruption. That