Ketan Dalal, Senior Tax Partner at PwC adds that the incremental taxing of offshore fund investors will cause panic.
Pranav Sayta, Partner at EY India feels it would have been helpful if a clear roadmap was provided on rationalisation of exemptions and incentives.
To balance the books from the cut, the government will have to withdraw some incentives and benefits. But Parikh isn't sure which exemtions will be removed.
Adi Godrej rates Finance Minister Arun Jaitley‘s Union Budget an 8 on 10. He says Jaitley‘s Budget will help revive the country‘s GDP as it lays a lot of emphasis on social infrastructure and Indian agriculture.
CNBC-TV18 along with BMR advisors has put these and several other Budget related questions to tax experts and the general public and the poll clearly indicates India wants FM to deliver a Budget that puts talk into motion and delivers on the many promises made so far.
Bobby Parikh, managing partner, BMR Advisors, adds that there is a lack of sentiment and fundamental strength to the Indian economy, thereby making the country a tough place to do business.
As the big Budget stands less than a week away, one of the questions that continue to perplex the expectation list is whether the Securities Transaction Tax (STT) will stay or go away?
Bobby Parikh, founder and managing partner, BMR & Associates told CNBC-TV18, the objective of the government will be to reduce fiscal deficit by containing subsidies in the upcoming Budget. He said the government can get some efficiency, if they able to use Aadhaar and UID to direct subsidies.
Yesterday, the Reserve Bank of India released the Draft Guidelines for "Licensing of New Banks in the Private Sector". Experts speak about the contentious issues in the guidelines and give their outlook going forward.
BMR Advisors, on Firday, announced the new leadership structure for their organization with Mukesh Butani elevated to the role of Chairman of the Firm.
Discussing the possible measures Finance Minister Pranab Mukherjee is likely to announce in Union Budget 2011 are Bobby Parikh, Managing Partner at BMR & Associates, Dinesh Kanabar, Deputy CEO and Chairman of Tax at KPMG and Corporate Tax lawyer HP Ranina in an exclusive interview CNBC-TV18.