Post-Budget reaction by NaturalMantra.com
Post-Budget quote from CEO of NaturalMantra.com Anand Agarwal:
The announcement of the Rs 10,000-crore fund for start-ups is a great and bold announcement by our FM in this budget. It will encourage more and more entrepreneurs to start their own business ventures. The allocation of Rs 500 crore for internet connectivity in villages will benefit the online economy of India which has about 243 million internet users. This move will open up more avenues for the e-commerce start-ups to reach out to a new demographic.
While the greater availability of funds is great news, the dampener for entrepreneurs is the regulatory process compliance. Unfortunately, the budget has completely ignored this important aspect. The complexity of regulatory compliance and the high cost of compliance is a big road block for those who wish to embark on an entrepreneurial journey.
