'Budget a step in right direction for startup sector'

By Nakul Kumar

The Budget 2020, is a step in the right direction for a more promising time to come for India's startup environment. It is very encouraging to see that the Government has perceived startup as a key job creator as well as an engine of growth which form the backbone of our economy. Tax reforms on ESOPs, and increase the turnover limit for startups from Rs 25 crores to 100 crores will boost the start-up system and will lessen the burden from complying with complex red tapism.

This year, the budget also focussed towards fuelling growth of early-stage start-ups by introducing initiatives such as setting up portal- based investment clearance cell for offering end-to-end facilitation services at the Central as well as State level in funding and a portal will be set up thereby creating more opportunities for startup owners.

(The writer is the co-founder and COO, Cashify.)