I am elated with Rs 1000 crore fund that has been allocated for start-ups, especially those that are technology-based. This announcement will encourage entrepreneurship and generate more employment opportunities in the sector. Also, the reduction in corporate tax from 30 % to 25% over the next four years is encouraging for e-commerce companies as low tax is equivalent to more inflow of cash. The promotion of cashless transactions through RUPay debit cards also works for the benefit of internet-based companies as this will reduce the propensity for Cash on Delivery, which is very high at present. Besides this, the tax reduction on royalty fees for technical services from 25% to 10% will make these services more cost-effective and bolster the operations of various tech-based firms.
- Post-Budget Reaction by Mr. Tapan Kumar Das, CEO and Co- Founder of iTiffin.in
- Post-Budget Reaction by Mr. Swaminathan Vedaranyam, Chief Executive Officer, VIA.com