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This budget season, join us on in-depth Budget analysis on EY Budget Connect+, aimed to bring together eminent economists, EY tax professionals and industry tax leaders at this forum.

To provide a non-adversarial tax regime and overhaul the dispute resolution mechanisms are priorities of the new government. Speculations are rife, but it needs to be seen and deliberated in more details whether the upcoming budget will bring back the economy to top gear.

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Budget Connect+ 2014

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Budget Connect+ 2014 webcasts

EY - Budget Day LIVE (video webcast)

  • Budget Day LIVE (video webcast)
    Thursday, 10 July 2014

  • Pre-budget personal tax expectations (audio webcast)
    Monday, 7 July 2014

  • Budget expectation of our tax policy panel (video webcast)
    Thursday, 3 July 2014

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BudgetConnect+ Bytes

Our experts provide their insights on Budget 2014. Join the conversation!

Get insights into pre-Budget expectations for various sectors such as Financial Services, Infrastructure, Industrial and Consumer, Real estate, Life Sciences, Technology, Media & Entertainment and Telecom.

EY - Meet our eminent panelists for BudgetConnect+ 2014

Meet our eminent panelists for BudgetConnect+ 2014

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Knowledge Seminars

EY - Doing business in India

Doing business in India



Key priorities areas

  • Fiscal consolidation
  • Boost savings
  • Incentivize investments in infrastructure and manufacturing
  • Provide an enabling tax environment
  • Create facilitating climate for investments
  • Invite foreign capital to set up manufacturing for global demand

Indian economy as on date

  • Sub 5% economic growth
  • Negative growth in manufacturing sector - Growth in manufacturing sector during April-March 2013-14 over the corresponding period of 2012-13 has been (-) 0.8%
  • 7% fall in gross domestic savings in FY13 and FY14 as against FY08
  • 8% fall in private corporate sector investment (% of GDP) in FY13 from its previous peak in FY08
  • Idle capacity in key sectors due to falling demand & regulatory hurdles (trade, manufacturing, mining and quarrying, construction)
  • Some positives:
    • Current account deficit reduced to < 2.0% in 2013-14 as against 4.7% in 2012-13
    • Slight increase in FDI inflows in FY14 (USD 36.4bn) as against FY13 (USD 34.2 bn)


Harishanker Subramaniam

Tax Partner and National Leader, Indirect Tax Services, EY

Harishanker (Hari) leads our Indirect Tax Practice. Hari qualified as a Masters Degree in Chemistry, but became a licensed customs broker and streamed into indirect tax consulting. He has been an entrepreneur, has hands on experience in the industry and Big 4 for over 25 years.

Hari has advised and assisted various multinational companies on resolution of import pricing at arms length on customs special valuation representations, export incentive programs, besides assisting in setting up of Export Oriented Units (EOU), Software Technology Parks (STP) and Special Economic Zones (SEZ). He also holds expertise in advising EPC companies for bid evaluation on contracts and highlighting the key impact from an indirect tax perspective. He has been involved across diverse industries namely oil & gas, automotive, telecom, information technology, media & entertainment, infrastructure & real estate, advising clients on cross border transactions, tax structuring, tax efficient supply chains and so on.


Budget 2014 highlights

  • Constitution of an Expenditure Management Commission
  • Tax savings of INR10.3k due to increase in slabs & 80C limits
  • Inverted duty structure corrected for specific sectors
  • Service tax benefits to boost Tourism industry
  • Extension of tax holiday to significantly boost Power sector
  • Customs duty tinkered to boost Manufacturing sector
  • Continuity of 15% tax on foreign dividends to benefit Indian MNCs
  • Transfer Pricing-related amendments to reduce litigation significantly
  • APA rollback provisions: Significant increase in APA applications
  • Proposal to overhaul the subsidy regime
  • Intent to find a solution for implementation of GST
  • FDI in Defence manufacturing and Insurance proposed to be increased to 49%
  • Relaxation in threshold conditions for FDI in construction development
  • Introduce Electronic Travel Authorisation (e-Visa) at 9 airports
  • Introduction of Infrastructure Investment Trusts (InvIT) for infrastructure projects
  • Recapitalization of public sector banks in a phased manner
  • Government to look at consolidation of Public Sector Banks
  • 6 new Debt Recover Tribunals to be set-up
  • Launch pan India programme “Digital India” to provide greater broad based connectivity
  • Institution to be established to provide support to mainstreaming PPPs called 3P India
  • Liberalise the ADR/ GDR regime to allow issuance of depository receipts on all permissible securities
  • Revamp the IDR and introduce a more liberal and ambitious Bharat Depository Receipt