FM has delivered a fantastic budget for startups: IAN

By Padmaja Ruparel and Saurabh Srivastava

“The budget 2020 represents a big win for the country’s startup ecosystem. We are pleased to see that the Government has paid heed to our concerns and rolled out the reforms like 5 year tax holiday for ESOP, Tax exemption for startups with turnover <Rs 100 crore for 10 years, reducing DDT and the establishment of a seed fund that will definitely serve to spur the startup activity in the coming years. More importantly, this budget has informed the industry of the empathy the Government caters towards Indian enterprises. This positive sentiment is evident in the Government’s drive to roll out “no tax harassment” policies along with the establishment of the investment clearance cell for assisting entrepreneurs in India.”

By Saurabh Srivastava

“The FM has delivered a fantastic budget for startups. The measures announced on ESOPs, taxation and seed fund will infuse tremendous energy in the ecosystem. The clear message on no-undue harassment will provide renewed confidence to entrepreneurs to create new innovative startups which create jobs and wealth in India and strive to take over the world. The startup ecosystem is extremely grateful to the PM and the FM who have taken the trouble to listen to startups and address some of their very serious concerns. And to DPIIT for piloting our cause so well"

(The writers are Padmaja Ruparel the Founding Partner of IAN Fund and Saurabh Srivastava, Chairman of IAN, repectively.)