'Simpler framework for startups expected in Budget'

Budget 2021 | Simpler and stronger framework for startups expected in upcoming Budget, says Vasitum CEO

Representative image. Credit: iStock.

Vikram Wadhawan,

In the upcoming Union Budget 2021, we are looking forward to the government’s decision to elevate the startup ecosystem including the MSMEs, which are one of the biggest growth drivers of the economy.

One of the major problematic areas for them is the availability of working capital. Thus, a framework which can mobilize funding for startups and MSME will be a great initiative and will drive serious growth for both the sectors.

In addition, we are anticipating the government to focus on extending credit facilities to MSMEs by re-leveling the banking and NBFCs to the same ground to ensure consumers get benefited.

Furthermore, we are also confident that an easy to maintain compliance agenda will provide the required impetus to various startups to stick to their homeland. We are also expecting the government to introduce new policy incentives that will accelerate the business growth of startups & MSMEs; thereby helping them to expand, hire resources, generate employment opportunities and contribute to the GDP.

In short, we feel a stronger and simpler framework for the startups and credit / grants to the MSMEs should form a part of the Union Budget along with other usual announcements."

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(The author is the founder & CEO, Vasitum)