Ahead of the upcoming Union Budget, companies in the financial sector are seeking measures like increased funding for startups and incentive-based credit facilities to help the manufacturing sector.
Finance Minister Nirmala Sithraman will be presenting the first full Budget of the Modi 2.0 government Friday amid high expectations from the industry for a big push to the slowing economy.
Increase in facilities for seed and growth equity funding for startups and micro, small and medium enterprises (MSMEs), provision of simplified and incentive-based credit facilities to help the manufacturing sector grow should be among the top priorities for policy makers, said Nilyanka Bhushan, Managing Partner and Co-founder, Sigma Ventures.
“This will catalyse the innovation and entrepreneurship that are India’s natural strengths,” Bhushan said.
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According to Kumar Abhishek, CEO and Co-founder, Amazon backed ToneTag, while the Startup India scheme has definitely provided multiple benefits to startups in the form of easy licence clearance, tax cuts, and minimum regulatory interference, there is still scope for many more reformative policies.
Source: Business Standard
