'Relaxed GST norms will build conducive environment'

Rajan Navani, Vice Chairman & Managing Director, JetSynthesys

The last year has seen unprecedented growth of digitisation driven by simplification of technology, consumer and business behaviour change, and increase in affordable data and smartphones devices. The increasing adoption of new and emerging technologies like Artificial Intelligence (AI) are further driving business growth. With growing entrepreneurial aspirations in India, initiatives like Start-up India and Digital India are creating an enabling ecosystem to support start-ups, incubators, accelerators and co-working spaces. A key expectation of start-ups from the budget is clarity and consistency on angel tax which will act as a powerful incentive for new and innovative businesses.

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The limitations set like INR 25 Cr on amounts should be waived or made substantially higher from DIPP-certified credible investors and start-ups to enable scalability which is key to India’s needs of creating large scale new businesses in an accelerated time frame. Also, alterations/changes in regulations such as faster payment processing and relaxation in certain Goods and Services Tax (GST) norms will help build a conducive environment for early stage ventures. Overall, the start-up industry is looking at improvement in ease of doing business with a digital-first approach to enable them scale up.

The author is the Vice Chairman & Managing Director of JetSynthesys.