Budget expectations of our tax policy panel

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Video Webcast | Duration: 90 minutes 


With the backdrop of a decade low economic growth of 5% and serious concerns on the rising twin deficits, the Finance Minister has promised a ‘responsible’ Budget for the next fiscal.  Ahead of the big day, he has been trying to rekindle confidence among the global investors in India as an investor friendly country.  How will the FM deliver on these assurances?  Expenditure cuts combined with the broadening of tax base, while maintaining stability in tax rates is the strategy that the industry expects. 

The Budget would be carefully watched for the indication of government’s intent on several sensitive issues, including the taxation of capital gains from indirect transfers, legislative amendments to GAAR and if the FM would follow the US example of imposing additional tax burden on the high net-worth individuals. The government is also expected to announce the roadmap for the most awaited indirect tax reform, the Goods and Services Tax.


Ganesh Raj

Tax Partner and National Leader, Policy Advisory Group, Ernst & Young

Ganesh heads the firm’s Tax Policy initiatives and as a Partner, he primarily focuses on Infrastructure, Industrial & Consumer vertical. A qualified Chartered Accountant, Ganesh had been involved in diverse tax policy, international taxation and corporate taxation issues across the industry in the past 18 years. His functional experience includes corporate tax planning, structuring cross- border investments and transactions, and joint venture negotiations. He also anchors some key direct tax litigation engagements. His role as Leader Policy Advisory Group keeps him engaged on a regular basis in dialogue with senior Revenue Officials with regard to tax and fiscal policy issues.


Satya Poddar

Tax Partner, Policy Advisory Group, Ernst & Young

Prior to joining Ernst & Young in 1987, Satya was Director of the Tax Analysis and Commodity Tax Division in the Canadian Ministry of Finance, where, he played a lead role in the design of the Goods and Services Tax (GST) and ongoing review and reform of the personal and corporate income tax system. He has undertaken major research projects for the European Commission on topics related to the application of VAT to financial services and to public bodies.

Satya serves as a tax policy expert to the Harvard Institute for International Development, the International Monetary Fund, and the World Bank and has participated in their technical assistance programs in Russia, India, China, Indonesia, Kenya, Ghana, Rumania, Gulf Cooperation Council, and Bulgaria. He has been actively involved in policy discussions on reform of consumption taxes in India and has been advisor to the National Institute of Public Finance and Policy, the Central Ministry of Finance, and several State Governments.

Satya holds post-graduate degrees in Economics from the University of Western Ontario, McMaster University and the Delhi School of Economics. He has written a number of papers on tax policy matters and regularly writes tax columns for the national newspapers.


Swaminathan S. Anklesaria Aiyar

Journalist and columnist

Swaminathan Aiyar is a prolific columnist and TV commentator in India, well-known for a popular weekly column titled “Swaminomics” in the Times of India. He is the author of Escape From The Benevolent Zookeepers - The Best Of Swaminomics (New Delhi: Times of India, 2008) and has been called “India’s leading economic journalist” by Stephen Cohen of the Brookings Institution. He has been the editor of India’s two biggest financial dailies, The Economic Times and Financial Express, and was also the India correspondent of The Economist for two decades. He has frequently been a consultant to the World Bank and Asian Development Bank. Swami spends part of the year in India and part in the USA. He holds a Master’s degree in economics from Oxford University, UK.



Sudhir Kapadia

National Tax Leader, Ernst & Young India

Sudhir is Partner & National Tax Leader at Ernst & Young in India. He joined Ernst & Young in 2008 as Technology, Communications & Entertainment (TCE) Tax Leader and became Tax Markets Leader in 2009.

Sudhir has vast experience in advising large multinational companies in relation to their inbound investment strategies and domestic companies in relation to their outbound investment strategies, including tax efficient supply chain and transfer pricing. Sudhir is closely involved with Private Equity, Financial Services, Technology, Entertainment and Infrastructure sectors in advising them on tax and regulatory issues.

Prior to joining Ernst & Young, Sudhir was the National Tax Leader at KPMG in India. He is a Chartered Accountant with over 25 years of experience. He has been speaking at key national and international events and contributes to thought leadership in the areas of international taxation. He is a regular speaker on major tax forums and has contributed through articles on tax & policy matters for the national newspapers and trade journals.