By Saroja Yeramilli
We are happy to see that the budget this year has been pro-startups. The creation of an investment clearance cell for managing everything end to end including offering investment assistance to upcoming ventures is encouraging. It will motivate budding entrepreneurs and make processes easier for them. The government has also raised the limit for tax on profit for startups from INR 25 crore to INR 100 crore and the decision to tax ESOP at point of sale is a welcome one for startups. Another good move has been the push for a digital economy through various technologies to enable the seamless delivery of services for different sectors. However, the fact that there was no mention of the reduction of import duty on gold has come as a dampener for us. Also, we would have liked also to see more steps taken by the Honourable Finance Minster to boost consumption and get the economy out of the slowdown malaise.
(Saroja Yeramilli– CEO and Founder, Melorra)
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