Will the Modi-Jaitley duo deliver? Budget 2014 is the moment of truth

The air is rife with high expectations from the Union Budget 2014. But the biggest question is, will the Modi-Jaitley duo deliver on their moment of truth?

CNBC-TV18 put together a panel of people with a vantage view of the behind-the-scenes activity. Watch a discussion with editors Senthil Chengalvarayan, Latha Venkatesh, Shereen Bhan, Menaka Doshi and Anuj Singhal and moderated by Sonia Shenoy, with a pitch report on everything one should watch out for this budget.

The panel believes that the budget is going to be high on intent, but will fall short on specifics. The other key predictions are a credible fiscal consolidation, no major IT exemptions for the salaried class, although one could expect a bit of a relief from higher taxes.

It is also expected that the government may just fall short of repealing the retrospective tax law, signaling that it is more than open for business. Among other predictions is a big push for SMEs and renewable energy, and significant tax revenue growth.

Watch the full discussion to know what to expect from the Union Budget 2014.