This budget signifies correcting and working towards some basic priorities in terms of providing more power and support to our internal growth engine. The government has shown a clear intent on revitalizing agriculture, infrastructure, skill development and higher education sectors. This bodes well for creating a highly skilled labour force to drive the ‘Make in India’ mission in the country.
The deployment of Massive Open Online Courses to promote Entrepreneurship Education and Training will help Indian youth connect with mentors and credit markets. It is an encouraging move aimed at promoting entrepreneurial spirit, especially among youth from rural areas.
Amendments in the Companies Act and the ‘Stand up India’ scheme will boost the entrepreneurial ecosystem. Most importantly, the government has indeed offered unique opportunities to Start-ups, categorizing them as critical partners to the ‘Make in India’ programme. The proposed 100% tax deduction for new startups for the first 3 years, along with the speedy registration mechanism is quite noteworthy.
Technuter.com News Service