Vijay C. Roy
Chandigarh, 27th January
India has emerged as one of the strongest economies in the world due to its entrepreneurial spirit. India, the world’s third-largest startup ecosystem after the US and China, is set to truly leapfrog as the world’s startup capital by introducing next-generation reforms in its upcoming budget, according to the startup founder. I can. Let’s see what their expectations are.
Established an innovation fund
Dedicated funding allocations should be set for rural infrastructure to support the digitization of agriculture. This will allow the sector to grow rapidly. “The Agriculture Innovation Fund, which supports agritech solutions, start-ups and digitization at various levels of the agriculture value chain, can transform the agricultural economy of the future,” said Randhir Chauhan, Netafim India and SVP Netafim. I’m here.
Relaxation of norms
“In the upcoming budget, we hope to see a strong push for financial inclusion and support from the Indian government for start-ups like FlexPay who are looking to take credit for all transcendent languages, literacy, places and livelihoods. Anil Pinapala, CEO & Founder of Vivifi India Finance. And according to the industry, the loosening of norms and liquidity support for NBFC fintech lending, which provides credit to the underserved, is a welcome move.
PLI for smart wearables
India has emerged as one of the largest markets for smartwatches, and the expected PLI scheme for manufacturing high-end components will further boost the industry. “Smart in India He is one of the first domestic brands to localize the production of wearables and with the right support for the initiative, he will strengthen his manufacturing efforts in India and effectively contribute to this mission.” You can.” Noise.
Reduced minimum alternative tax
According to the founders, a reduction in the minimum alternative tax (MAT) for eligible companies from 15% to 9% would make it easier for start-ups to meet their daily working capital needs. This is especially true in the early stages. “Other important steps to be taken include providing single window permits for start-ups to claim exemptions under the Income Tax Act, and extending the 100% tax exemption to five years instead of the current three years. It includes an annual extension,” said Amardeep S Tiwana. , Startup Consultant & Communications Strategist.
Focus on women-led startups
Women entrepreneurs have high expectations of credit support for women-led businesses. There is a need for substantial, coordinated spending by the government to strengthen demand and ease of doing business through incentives for innovation and technology adoption, particularly for women’s startups and her R&D activities.