Union Budget 2019 – Exclusive Reactions From CEOs And Founders Of Start-ups

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Post Budget 2019, there is a lot of reaction which we have received from a number of CEOs and Founders about their view on this Union Budget 2019. This time the government has increased custom duty on almost all the electronic products and also on the product which will affect a lot of start-ups who are importing their raw materials from other countries at cheap prices.

Budget 2019 – Exclusive Reactions From CEOs And Founders Of Start-ups

 

Sameer Aggarwal, Founder and CEO of RevFin shared his views on this budget with us. Any start-up providing adequate declarations will not be subject to any angel tax. Further, an electronic mechanism will for verification be built. Investments through Alternative Investment Funds Category II will also not be subject to IT scrutiny on start-up valuations.

According to Sameer, this announcement is very welcome and will help build investor confidence by bringing policy certainty. This will drive investments into start-ups which will further lead to GDP growth, job creation, wealth creation and above all innovation. Another step to exempt tax capital gains from property sales invested in start-ups will further help bring in more investment.

A dedicated TV channel that would discuss issues of start-ups, promote them and have investor interface would be started. The channel will be started by start-ups. This is a unique idea and will provide a medium for start-ups to be heard.

Interest on loans up to Rs. 1.5 lacs taken to purchase electric vehicles will be tax deductible. While no direct income tax benefit was given in this budget, incentivising sales of electric vehicles by providing tax benefits will help people reduce tax, while also support a reduction in air and noise pollution.

"It can be a game-changer for the Indian economy and society in the coming years. We are expecting more schemes and policies for travel and tourism sector." Reacting on Union Budget 2019, Aditi Balbir, Founder, and CEO, V Resorts said.

 

"The attention of our honorable Finance Minister, Niramala Sitharaman on policies pertaining to better connectivity to different tourist destinations, enhanced facilities, and experiences for the tourists will certainly help our tourism industry. The focus should also be given to the gap in the skilled workforce which can be fulfilled by starting skill development programs," she added.

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