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Budget 2020 has something for everyone: Anil Joshi

Last Updated 01 February 2020, 15:02 IST

By Anil Joshi

"FM’s first full Budget has something for everyone. She tried to address employment generation issues, providing access to education, emphasized on embracing tech and next-gen concepts like IoT, AI and ML. We are happy to see that the FM has kindly agreed to long pending demand from industry on ESOP, the new guidelines will certainly help startups attract good talent and reward suitably through ESOP, the ESOP guidelines will help in structuring the benefit to deserving employees. The increase in the turnover limits from Rs 25 cr to Rs 100 cr for claiming off-set on profits is a welcome announcement. It will boost cash flow situation at early-stage startups who sometimes fail before take off because of liquidity crunch. Also, by exempting companies with turnover upto Rs 5 crore, from audit, reduces compliance burden on them.


"The Govt has also proposed a policy on early life and seed stage funding for startups to validate their business idea and run POCs, we believe, this would help grass root development and will encourage more university led IPs would good boost for innovators. However, the fine print will tell us what kind of financial support would early stage startups get in the coming months. We hope the procedure to avail these services are less complicated. Also, our industry’s demand on tax parity still remains unattended. However, we are hopeful that the govt will give it thought in time to come as we are continuously seeing the focus on startups and investors increasing in the last 5 years. Overall, it is a Budget with an aspiration to revive the economy from its current slowdown."

Anil Joshi, Managing Partner, Unicorn India Ventures

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(Published 01 February 2020, 15:02 IST)

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