'Aspirational schemes vs impactful steps still concern'

'Aspirational schemes vs impactful steps still concern'

Deena Jacob, CoFounder & CFO of Open Financial Technologies ltd.

By Deena Jacob

"Support for start-up ecosystem with investment clearence cell providing advisory support is a good move to encourage entrepreneurship. While deferring ESOP taxation is a welcome step, the 5 year threshold could dent the usefulness of the change. Decriminalisation of certain provisions of the Companies Act as well as the thought towards effective implementation of contracts touch upon two crucial areas of legal complexities today. Overall a budget with a desirable framework and some clear steps towards implementation. However, aspirational schemes vs clear impactful immediate steps remain a concern that needs to be proved with implementation and detailing of each area."

(The writer is the CoFounder & CFO of Open Financial Technologies ltd.)

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