'Expect govt to take steps to increase consumption'

'Expect govt to take steps to increase consumption'

Credit: iStock image

By Suraj Chaudhari

The government has provided many incentives for startups already with the tax holiday and doing away of the Angel tax in the previous budget. We expect the government to take steps to increase consumption to improve the overall economy and since india being a consumption driven economy, boost the GDP by doing so. One of the measures is relaxing the personal income tax rates, increasing the spending power of Indian taxpayers. Reducing the compliance burden on startups would also help new age companies grow. Most of the new age companies have aligned to the environmental, social and governance standards. But doing so is also expensive. Incentives should be provided for companies which are adapting the responsible and sustainable model.

(The writer is the co-founder & CEO of Zlade)