'Budget should've given more impetus to start-ups'

“Government has announced a good development Budget for common people, but there is not much in it for start-ups and corporate offices in terms of policy simplification, Anupam Tulsyan, founder of Peachmode.com said.

Sanjay Sethi, CEO of Shopclues.com said finance minister Arun Jaitley has certainly made several important announcements for start-ups in his Budget. “A good amount has been allocated for women entrepreneurs and members of scheduled castes and schedules tribes. Jobs will be created and the economy will be boosted owing to tax exemption for start-ups,” he said.

“However, we do believe that overall a lot more impetus could have been given to the start-up eco-system through this Budget,” he added.

Besides, there is no clarity on the goods and services tax and no reduction on the corporate tax either, said Tulsyan. Rather the service tax has increased, he observed.

Echoing him, Shailesh Jain and Anup Nair, co-founders of Mirraw.com said, “Though we had hoped for announcement on clarity of GST, the Union Budget appears to be the one that is focused on development and is for the common man.” (MCJ)

Fibre2Fashion News Desk – India