' - What are your expectations from Union Budget 2012-13?
The country is currently passing through a phase of macroeconomic uncertainty, with inflation moderating but still high, consolidated fiscal deficit going back to high single digits after the consolidation seen in early 2000s and substantial growth slowdown. The government does not seem to have many levers'left in terms of extending tax breaks, as FY 2013 is likely to be a period of some fiscal consolidation before the elections in 2014. Hence the investors will watch for the quality and transparency of numbers, and meaningful signs of fiscal discipline. In this context, any move for better targeting of subsidies, eg. Using UIDAI, will be welcome.
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