I'm glad that startups have been one of the major focus areas of the budget this year. Multiple announcements including reducing the tax burden on employees, setting up of entrepreneurship cells and supporting seed fund investment for early-stage startups - all only reinforces what young India has delivered through startups, over the years.
By reducing the corporate tax to 22%, the government has enabled the revival of the corporate and industrial sector.
With regards to perishable goods, measures for its transportation will help minimize the losses that the industry faces due to lack of it. Seamless national cold supply chain through PPP Model for fast transportation on national and international routes will help companies like ID fresh to reach more markets- domestic as well as international, where we can be assured of the freshness of the products.
My personal favourite - announcing an allocation of Rs 20,000 crore for the renewable energy sector, pushing for organic fertilizers and thereby encouraging the farmers to go for Solar energy instead of the traditional diesel/kerosine. It is a huge positive step as it reduces the carbon footprint on the environment.
I would have loved to see 2yr GST exemption for products with plastic-free packaging. I strongly believe that something like this could incentivise businesses to come up with innovative solutions and alternative technologies to reduce their environmental footprint. Whether it’s replacing single-use plastic with eco-friendly materials or packaging solutions that focus on recycling, the FMCG industry needs the right push from the government to herald a green tomorrow.
We will wait for the government to implement these initiatives for a better India."
(The author is Co-founder and CEO, iD Fresh Food)
Published 02 February 2020, 09:32 IST