Finance Minister Arun Jaitley earlier tabled the Union Budget 2017 on February 1in front of both the houses of Parliament. This year the Union Budget included both General and Railway Budget and it received mixed reactions from different people of the industry. Anurag Avula, CEO and Founder, Shopmatic said, “It’s agreeable to see positive reforms being proposed in favour of digital pay systems for the common man, more specifically in rural and semi-urban areas. The move for forming reduction on tax for small and medium enterprises’ is a boost to “The Make in India initiative”, that will encourage the nation to keep in lines with motivational 2017-2018 budget theme of Transform, energize and clean India.
He also said, “It’s also great to see improvement on the high speed broadband connection in rural and tier 2 and 3 cities, which further nurtures the country’s tech essence. What is interesting to note is the government’s interest in start-ups and on energising youth & creating jobs. The Profit linked-deductions for start-ups that has been reduced to 3 years out of 7 years, will certainly ease the process. ”
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“In all its completeness we are quite pleased with the start-up and SME announcements. We believe that the fresh moves made will cultivate the rising upsurge of tech and digital initiatives to further energise the GDP of our nation,” he said.