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Budget 2022: From tax exemption in FDI to better arrangement of cash, these are the hopes of startups from Finance Minister

On February 1, Finance Minister Nirmala Sitharaman will present the Union government’s budget for the financial year 2022-23. This will be the fourth budget of the second term of the Modi government. All the sectors have their own expectations regarding the coming budget. Startups also have some expectations regarding the budget.

Startups also have some expectations regarding the budget.

Budget 2022: On February 1, Finance Minister Nirmala Sitharaman will present the Union government’s budget for the financial year 2022-23. This will be the fourth budget of the second term of the Modi government. All the sectors have their own expectations regarding the coming budget. Startups also have some expectations regarding the budget. The Indian startup ecosystem is set to touch $39 billion globally in 2021 with 78 unicorns, 8 IPOs and a 3-fold increase in total funding over the previous year, says Sanjay Shah, Chief Operating Officer, Wadhwani Foundation-India/SEA. The sky touched for However, despite the stellar performance, two challenges remain prominent in the Indian startup sector. Many unicorns in India do not have a decent revenue base and need cash flow to survive.

Shah further said that there is a need to accelerate our digital transformation with technology and platforms. Therefore, in 2022, the government needs to focus more on domestic capital participation, favorable investment climate in Tier 2 and Tier 3 cities, incentives to set up incubators in every state, tax exemption on foreign direct investment, and startup infrastructure development. . This will also help in globalization of Indian startups as 42 per cent of them are planning to go global in 2022.

Startups also talked about giving training

Sunil Dahiya, executive VP of Wadhwani Opportunities at Wadhwani Foundation, says training, upskilling and bringing talent from freshmen to veterans is the need of the hour for India in 2022. He advises the government to focus on three things, so that India’s position can be changed. Allocate budget for government-led, training and skilling centres, focus on vocational and experiential-led job openings in industries and redefine recruitment and retention policies for companies across India by mandating a minimum wage policy Do.

Satish Shukla, co-founder and head of Adverb Technologies, said that 2021 has been the year of unicorns and the time taken by startups to become unicorns has also come down. These unicorns have created jobs and contributed to the creation of a new commerce and economy. Currently, the tax rate for capital gains on unlisted shares is different than on listed shares, resulting in higher taxes for startup founders and early-stage investors. They can be rationalized at par with listed securities to bring in parity.

read this also: SEA demands ban on import of refined palm oil, said domestic refining industry is suffering a big loss

read this also: There will be no announcement regarding infusion of capital in public sector banks in the budget: ICRA

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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