Budget 2022: Here's What Indian Start-Ups Expecting From The Budget
Indian Startups have requested the government to ease the tax load on the industry along with multiple expectations the startups ecosystem is eye on some big updates from the budget.
A group of indigenous startups suggested that the
Union Budget 2022-23
should include new startup-friendly policies and tax relaxation.
Startups are looking for a
, with an emphasis on fostering domestic entrepreneurs that solve problems for India.
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Increase contribution to the Fund of Funds for Startups
Startups also want the government to boost its contribution to the
Fund of Funds for Startups (FFS)
, which would aid their growth
Easy loan disbursements, tax and compliance automation, paperless approvals, and incentives to embrace digital banking practices are all positive innovations that may help MSMEs expand.
Extending and Expanding the ECLGS program
For the majority of the next fiscal year, the government should consider extending and expanding the ECLGS (
Emergency Credit Line Guarantee Scheme
Eliminating the tax on some ESOP income
Many startups in the nation have pushed their employees to purchase
Employee Stock Ownership Schemes
in the previous year (ESOP)
The EV Sector Startups are urging the government to
decrease the GST
on EV purchases and rentals from 5% to 2%.
source : goodreturns