Union Budget 2025 | 'Request formal recognition of coworking as a distinct industry,' says IndiQube Founder Rishi Das

Union Finance Minister Nirmala Sitharaman is set to present the Union Budget on February 1 in the Lok Sabha. The Economic Survey by the Finance Ministry will be released on January 31.

In this context, several industry leaders have opened up about their expectations from the Budget.

Rishi Das, Executive Director & CEO, IndiQube, said regarding the Budget, “As we approach Budget 2025, a strategic policy support could help unlock the full potential of coworking spaces and enable us to contribute even more significantly to India's economic growth. We request for a formal recognition of coworking as a distinct industry. Currently, we often find ourselves categorized within broader real estate or commercial classifications, which fail to capture the unique dynamics of our business model. Formal industry status would be transformative, providing access to tailored policies and a more supportive regulatory framework designed specifically for our operational needs."

"To further drive regional development, we urge the government to introduce targeted tax incentives and policies that specifically encourage investment in Tier-II and Tier-III cities. This will enable us to further expand beyond the major metropolitan areas and unlock the vast potential of these emerging markets. By establishing coworking spaces in smaller cities, we can create local hubs for innovation, generate employment opportunities, boost local economies, and foster thriving entrepreneurial ecosystems," he further said.

"Moreover, offering incentives for green buildings and on the use of renewable energy would promote sustainable development. Incentivizing green practices would not only reduce the carbon footprint but also set new standards for sustainable business operations in real estate," Das stated.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.