Taxing the rich: populist or productive?

Finance minister P Chidambaram invoked Wipro chief Azim Premji's name as he slapped a higher surcharge on the ‘super-rich’ in the budget presented yesterday. Experts, BM Singh, former chairman of the CBDT, TCA Srinivas Raghavan, senior associate editor of the Hindu Businessline, and Pranav Satya, tax partner at Ernst & Young, discuss whether taxing the rich to fix the fiscal deficit was the right thing to do and whether those, who are already compliant, are being penalised further, while evaders are let scot free.