'Simpler regulations on ESOPs will boost retention'

Mr. Rahul Singh, Co-founder & CEO of Ithaka

Travel startups bleed to compete with foreign registered travel companies as GST is not applicable on them. GST becomes a big amount as ticket sizes are big for travel bookings and hence affect the decision of traveler in choosing where to buy from. Also, sending money to vendors outside India could be easier to further promote making of global companies out of India.

I also have high hope from this budget on startup ecosystem and want immediate removal of angel tax, which has been haunting both entrepreneurs and investors for a long time. Government should also encourage VCs by requiring less stringent paper work for funding.

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To make our PM's dream a reality, startups should focus on innovation, rather than compliances. There should be single window for all compliances. Also, to boost employee retention and wealth creation for key people in a company there should be simpler regulations on ESOPs.

The author is the co-founder & CEO of Ithaka, a chat-based community-driven travel planning platform backed by Thomas Cook.