The FM’s Union Budget for this year strongly focuses on growth and development of the country. It is welfare focused and has kept the sentiment up for business. The government has announced positive initiatives to ensure better economic growth.
It is good to see the government’s focus on encouraging start-ups in the county. The allocation of 1000cr under the ‘Make in India’ initiative to support the start-up ecosystem in India is a special focus on IT start-ups and this will encourage entrepreneurship and product innovation under the ‘Self employment and talent utilization’ initiative. This will help in overcoming challenges faced by the community and also to raise global capital. Also, allocation of Rs 150 cr under the Atal Innovation Mission will foster a culture of innovation.
The reduction of corporate tax by 5% over the next 4 years is another example of the government’s initiative to ensure no loss of revenues while keeping the sentiment up for business upbeat.