Here’s what India’s Startups think of Budget 2016

The government has announced a slew of measures that can help Indian startups. Taking the Start-up India initiative forward, this Budget allocated a sizeable Rs. 500 Crores for SC/ST and Women entrepreneurs. Announcements like 100% tax exemption for 3 years for start-ups would go down well with initial startups. The proposed amendment of the Companies Act to allow new start-ups to register in one day is also a welcome step.

We got in touch with startup founders to see what they felt about the Budget.

Vijay Shekhar Sharma, Founder and CEO, Paytm, “I am really happy for Aadhar and IndiaStack. With the focus on digital payments and incentives to startups, the Finance Minister has boosted our Prime Minister's Digital India and Startup India plans.”

Bhavish Aggarwal, Co-founder and CEO, Ola said, “It was quite encouraging to see the Hon'ble FM also address some key road transportation issues and set aside a requisite budget for infrastructure development. Creating inroads for entrepreneurship in the public transportation space and amendments in the Motor Vehicles Act to allow for innovations will provide a strong impetus towards enabling mobility for citizens.”

Kiran Murthi, CEO, AskmeBazaar,” Honourable Finance Minister has presented a business friendly budget which is encouraging for young and fast growing India. We welcome this budget as a progressive step in the right direction with an intention to promote entrepreneurship and encouraging start-ups in India."

Varun Khitan, Co Founder, UrbanClap, "Startups look to gain from the government focus on employment and employability. Change in the definition of SME, focused intent on the GST bill and added infrastructure spending are all boosters for the economic environment and startups stand to gain from them. We look forward to speedy implementation of these proposals."

Image credit: Indiatimes