Budget 2019: Good budget for the startup community

Overall push to the digital economy by removing charges on digital transactions. (File Image)

By Bhaskar Majumdar

This Budget has been a good budget for the startup community. FM announced doing away with Angel tax. This has been a long standing demand of the industry and we welcome this move.  Apart from Angel tax, 2 other good areas to broad base and foster spirit of entrepreneurship in tier 2 and 3 cities by launching ASPIRE incubators in tier 2 and 3 cities.

Overall push to the digital economy by removing charges on digital transactions and putting surcharge on companies withdrawing more than a crore every year will have a positive impact on accelerating digital economy and bring more transparency in transactional data.

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Bharat Net focus on tier 2 and 3 cities will also boost the digital economy. I think 2 aspects that may have gone unnoticed is the Social stock exchange through which social entrepreneurs will be able to raise money and global investors meet which the govt is planning will obviously boost early stage investment ecosystem here.

(The author of this article is the Managing Partner of Unicorn India Ventures)

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