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Indian startup founders on Monday said that to explore a comprehensive digital India, the <keyword id="6360189" type="General" weightage="100" keywordseo="union-budget" source="Orion">Union Budget</keyword> for FY24 must leverage the full inherent potential of the homegrown technology industry to become champions of digitisation. Gautam <keyword id="893041" type="General" weightage="80" keywordseo="nimmagadda" source="Orion">Nimmagadda</keyword>, Founder and CEO of Quixy, a cloud-based no-code application development platform, said that currently, startups can avail of a tax holiday for three years since incorporation. "However, the ideal exemption should be 10 years, in view of the high cost of solution development. As positive employment drivers, startups also require government intervention in the expensive affair of hiring and retaining the right talent to drive growth," Nimmagadda said in a statement. "To lead the startups onwards and upwards, a single-window process to enable the right financial support from government would be incentivising for MSMEs," he added. According to ESOPDhan co-founder <keyword id="576027" type="General" weightage="80" keywordseo="nitin-agarwal" source="Orion">Nitin Agarwal</keyword>, the budget can reduce the holding period of ESOP shares of unlisted companies from two years to one year for purposes of capital gain. "This would make ESOPs a more attractive tool to retain and reward employees, especially among startups that are today seen as major job creators," Agarwal added. 2023 is already shaping up to be a watershed moment for the gaming industry. With the government releasing draft online gaming rules earlier this month, the burgeoning sector will see a lot more success this year. According to Sai Srinivas, Co-founder and CEO of MPL, the industry hopes to get clarity in a few areas. "The first is the GST mechanism on online gaming. We hope the government provides clarity on the tax slab applicable on skill gaming. Another relates to the AVGC fund set up as part of the AVGC Promotion Task Force announced in last year's budget," he mentioned. Access to financial support "will be a tremendous boost to young talented developers and designers, and will accelerate the push to 'Create in India' and take made-in-India games to the world," he added. <keyword id="16292225" type="General" weightage="80" keywordseo="dhruv-jolly" source="Orion">Dhruv Jolly</keyword>, Founder and MD, <keyword id="16292224" type="General" weightage="80" keywordseo="taponn" source="Orion">TapOnn</keyword> digital, said that the budget would include some assistance for qualifying firms under the 'Startup India Scheme' in terms of the number of taxes that must be filed, the frequency of filing, or the tax slabs. "We might witness a strong emphasis on attracting more foreign investment, making the registration and compliance process more easy and fast, and strengthening economic ties with other countries in the Indo-Pacific region," Jolly said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-witness-high-volatility-amidst-war-of-words-between-the-company-and-hindenburg-research/articleshow/97437171.cms">Adani Group stocks witness high volatility amidst war of words between the company and Hindenburg Research</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/auto-parts-sourcing-startup-capgrid-raises-7-million-from-nexus-venture-others/articleshow/97437294.cms">Auto parts sourcing startup CapGrid raises $7 million from Nexus Venture, others</a>

Budget expectations: Startups seek 10-yr tax holiday, less holding period of ESOP shares

Thanks to the recently launched start-up hub, the government has been flooded with over 400 calls a day, because of which it is scaling up big time so that it can manage the overflow of budding entrepreneurs who want support for their business. 
 
For this initiative, the government’s Industry Department, which looks into the growth of Indian industries, has started mapping incubation centres across the country so that business ideas can be extended full support. To build these incubation capacities, the government will be engaging both private sector and state governments. 
 
The Industry Ministry is having a proper look at all the states and their capabilities of incubation, so that the start-up movement can be extended to tier-II and III cities. 
 
The plan is to create sector-specific incubators under the Atal Innovation Mission along with 500 tinkering labs, so that entrepreneurship can be promoted and pre-incubation training can be provided. 
 It was to promote the <keyword id="3337004" type="UNKNOWN" weightage="100" keywordseo="start-up-india-scheme">Start-up India Scheme</keyword> that the start-up hub was launched, along with the start-up portal and mobile app, so that the entire start-up ecosystem can have a single point contact. Using this portal, start-ups will be able to avail all the tax benefits and incentives like a tax holiday, an 'inspector raj'-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus for funding of start-ups. 
 
<a href="http://redbirdconferenceandeventcenter.com/wp-content/uploads/2013/11/businessincubators.jpg">Image source</a>

Start-ups will now get incubation hubs in every state, thanks to the Industry Ministry

Here’s how the advertising and marketing industry reacted to Union Budget 2021

<ul class="summary-list"><li>Paddle, a payments company for software startups, allows staff to work abroad for 45 days a year.</li><li>Work from anywhere is a highly in-demand work benefit post-pandemic.</li></ul>Working from anywhere is a highly sought-after but elusive post-pandemic work benefit.While remote or hybrid working has been adopted by many companies in the wake of the COVID-19 pandemic, businesses that allow their employees to work from other countries for long stretches of time are still in the minority.The idea is popular with employees and job seekers. Airbnb said in the week following its recent <a href="https://www.businessinsider.com/airbnb-flexible-work-remote-brian-chesky-no-loss-pay-2022-4?r=US&amp;IR=T">work-from-anywhere announcement</a>, more than <a href="https://www.businessinsider.com/airbnbs-careers-page-viewed-800k-times-work-from-anywhere-benefit-2022-5?r=US&amp;IR=T">800,000 people</a> flocked to its <keyword id="11894132" type="UNKNOWN" weightage="100" keywordseo="careers" source="Orion">careers</keyword> page.There are a few reasons why other companies are resistant to letting employees work from anywhere. It has the potential to become an HR and tax minefield. Full-time employees will be subject to country-specific local employment laws and tax requirements if they remain in a country for too long. Fines for tax or employment violations can be harsh, and not all companies are willing to roll the dice on the extra expense. <a href="https://www.businessinsider.com/revolut-spotify-paddle-work-from-anywhere-pandemic-2021-7?r=US&amp;IR=T">Paddle</a> is a London-based startup that provides payment and bill infrastructure for fellow software firms and is valued at $1.4 billion. It's one of the few companies right now offering a work-from-anywhere policy, with any of its 275 employees permitted to work from any country in the world for 45 days of the year.Insider spoke to Hanna Smith, Paddle's head of people, to find out how.<h2>1. Paddle sought legal advice for the policy</h2>Smith said that the idea to introduce Paddle's work-from-anywhere policy came from an in-house employee survey. She said that many employees were starting to travel again, and working abroad was something Paddle wanted to allow alongside its <keyword id="11905566" type="UNKNOWN" weightage="60" keywordseo="remote-work" source="Orion">remote work</keyword> policy."The pandemic gave us all the ability to do things differently," Smith said. "We wanted to do it because the world was starting to open up again." Paddle sought advice when creating its "Navigate" policy to avoid potential issues."We took legal advice on it," Smith said. "Generally, you can work outside of your country of employment for under 90 days without being personally liable to pay tax in that country or the company being liable to pay tax in that country.""I think tax is definitely a big consideration. That's why we settled on 45 days," she added.She said companies should seek personalized advice as laws can vary by country. <a href="https://www.businessinsider.com/airbnb-flexible-work-remote-brian-chesky-no-loss-pay-2022-4?r=US&amp;IR=T">Airbnb's policy</a> follows a similar structure, with workers allowed to work in 170 countries for up to 90 days a year.<h2>2. Working from abroad can improve work-life balance </h2>Giving employees the ability to work from other countries has boosted Paddle's recruitment and retention, Smith said."It's one of the first things that candidates want to know about," she said. "It's definitely a good attraction piece for talent and a retention piece too."Since Paddle introduced the scheme in August 2021, 43 employees have used the policy for a total of 285.5 days.Smith said that the policy has also enabled employees to look after their wellbeing on their own terms."We have one employee who suffers from seasonal affective disorder — they didn't want to use their vacation or to go on holiday. They wanted to actually be able to work somewhere where they have more sunlight so they used the policy to do that in January," she said.The main restrictions on the policy are timescale and timezone.Navigate requests must be submitted to the company before an employee travels and Paddle prefers employees to stay within a five-hour plus or minus timezone — but Smith added that they takes a "personalized approach" to the rule.

Paddle lets employees work from anywhere 6 weeks a year. Here's how it overcame tax complications and time-zone differences.

New Delhi, Feb 10 () Budget proposals for start-ups will help promote growth of budding entrepreneurs in the country, financial advisory firm Findoc Group said on Monday. Hemant Sood, the Managing Director of Findoc Group, said the government's move to roll out reforms like five-year tax holiday for employee stock option plan and tax exemption for start-ups with a turnover of less than Rs 100 crore for 10 years are steps in the right direction. "By reducing tax burden of employees, the government will help start-ups ride on ESOPs programme even more. This move will ensure key employees are retained leading to their own skin in the start-up whilst ensuring future benefits for such key and critical employees in such start-ups," he said in a statement. Change in tax structure for start-ups will surely impact global ease of doing business, he said. "It is a clear sign for start-ups that the government has also invested in their success and would like to remove as many barriers as possible," he said. "The announcement on seed fund support for early age start-ups will also boost market sentiments in the months to come," Sood said. RR MRMR

Budget announcements for startups to boost budding entrepreneurs: Findoc Group

It was a short four-day week identical to the previous one, with a mid-week holiday on Wednesday. Markets were under pressure and lost on three of the four trading days. The BSE <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">SENSEX</keyword> lost 953.58 points or 1.95% to close at 47,878.45 points while <keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">NIFTY</keyword> lost 276.50 points or 1.89% to close at 14,341.35 points. The broader market saw BSE100, BSE200 and BSE500 lose 1.86%, 1.71% and 1.58% respectively. BSEMIDCAP lost 1.01% wile BSESMALLCAP lost a mere 0.06%. The top performing sector was BSEHEALTHCARE which gained 1.36% while the worst was BSEREALTY which was down 3.45%. Dow Jones lost 174.41 points or 0.51% to close at 34,043.49 points. There seems to be confusion in the US markets and they seem to be alternating between losses and gains on alternate days as was witnessed last week. Markets on a daily basis saw negative 123 points on Monday, negative 256 points on Tuesday, positive 316 points on Wednesday, negative 321 points on Thursday and positive 228 points on Friday. The lifetime high was 34,257 points. Concern at this point of time is the imposition of capital gains tax by the Biden administration of a steep 43% which is likely in the coming days. The Indian Rupee lost 66 paise or 0.89% to close at ₹ 75.01 to the US Dollar. Results season continue to throw up impressive results so far. ICICI Bank reported more than doubling of its net profit for the full year 2020-2021, even as the fourth quarter saw the profits move up more than 2.6 times. Profit for the year was at ₹ 16,192 crore versus 7,930 crore. Similarly for the fourth quarter it was at ₹ 4,402 crore versus 1,221 crore. <keyword id="45442" type="COMPANY" weightage="20" keywordseo="Reliance-Industries-Limited">Reliance Industries Limited</keyword> would announce its results on Friday the 30th of April. This week would see the top companies of the benchmark indices almost completing announcing their results and then the results from the next bunch of companies which would also include the not so good results would begin to be announced. Shares of Macrotech Developers Limited listed on the bourses on Monday the 19th of April. With mayhem on the streets, the share was quite resilient and closed with minor losses of ₹ 22.85 or 4.70%. They gained during the remaining part of the week and closed at ₹ 530.55, a gain of ₹ 44.55 or 9.17%. The situation on the Covid-19 front which had turned worrisome continues to dominate news across India. <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> which was one of the worst affected states, seems to be improving with the number of daily cases dropping or not showing any further signs of increasing. While one cannot say with certainty that the worst is behind us, it can be said that things cannot get any worse from here on in some states. Secondly with the awareness now becoming clear to all, there seems to be better following of protocols and procedures. The world saw 14,70,91,849 patients, 31,13,284 deaths and 12,47,30,121 patients recovering. In India we saw 1,69,60,172 patients, 1,92,311 deaths and 1,40,85,110 patients recovering. Compared to the previous week the world saw, 57,67,943 new patients, 89,222 deaths and 48,02,430 people recovering. In India we saw, 21,72,063 new patients, 15,143 deaths and 12,75,467 patients recovering. The week ahead sees April futures expiring on Thursday the 29th of April. Currently the series is ahead by a mere 16.45 or 0.11% points and could go in either direction. The week would see trading on all five days this week. This series could go in either direction at this point of time but looking at the market technical and sentiment, it appears that the bears would have an upper hand. Readers would recall that over the last couple of weeks I was taking of a band of 48250-50500 on the BSESENSEX and 14250-14900 on the NIFTY. This band has now changed with lower values to read as 46500-49200 on BSESENSEX and 13750-14500 on NIFTY. This implies that markets would continue to be range bound but the range has moved down with markets losing their momentum and shifting their base downwards. It could also be said that their ability to hold on to gains has diminished and they are trading with a negative bias. The week ahead would continue to be volatile and market movement would be influenced by global cues, results from companies and the <keyword id="8764262" type="COMPANY" weightage="20" keywordseo="covid">Covid</keyword> situation in India. Foreign institutional investors seem to be churning their portfolio and they no longer seem to be one-way buyers. In such a scenario it makes sense to be patient in the marketplace, sell on rallies and wait for sharp dips before cherry picking stocks. Be patient and bide your time for a bad day as markets are unlikely to run away anytime soon. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-vcs-and-startups-are-now-looking-to-charter-flights-and-import-oxygen-cylinders-and-concentrators-into-the-country/articleshow/82230785.cms">Indian corporates, VCs and startups are now looking to charter flights and import oxygen cylinders and concentrators into the country</a> <a href="https://www.businessinsider.in/thelife/news/zerodha-nithin-kamath-says-its-time-to-pack-up-and-move-from-indias-large-cities-and-permanently-work-from-home/articleshow/82230947.cms">An Indian billionaire says it’s time to pack up and move from India’s large cities and permanently work from home</a> <a href="https://www.businessinsider.in/science/health/news/drugs-used-to-combat-covid-19-what-works-and-what-doesnt/articleshow/82231193.cms">Drugs used to combat COVID-19 ⁠— what works and what doesn’t</a> <a href="https://www.businessinsider.in/science/health/news/how-to-wear-double-masks-surgical-mask-cloth-mask-in-second-wave-of-covid-19/articleshow/82231342.cms">Double masks for COVID-19 – how to wear them and other things you should know</a>

COVID crisis, Reliance earnings, a mid-week market holiday — all the things that might affect Sensex next 5 days

The Indian government wants to fulfil its promise to provide employment to one crore people before its term ends and in a bid to achieve its target, it is going after startups. Now, companies that want to avail benefits from the <keyword id="3003094" type="UNKNOWN" weightage="100" keywordseo="Startup-India">Startup India</keyword>, Standup India programme will have to declare how many jobs they would create. "We will soon notify the new definition for startups, which goes beyond innovation," a senior government official told ET. Apart from innovation, which is the main criteria for startups to qualify, <keyword id="81847" type="UNKNOWN" weightage="20" keywordseo="Job-creation">job creation</keyword> is also on agenda. To qualify as a startup under the new definition, an entity would have to declare its job creation target and meet certain financial standards besides having a certain level of innovation in its product or service. "We will do our own scrutiny at the time of examination of applications for giving the tax benefits," the official told ET. It is noteworthy, at the time of Startup India initiative’s launch, job creation was not a mandatory requirement. So far, DIPP has recognised 798 applications as startups but not given them the tax benefit. Companies incorporated after March 31, 2016, could avail of a three-year tax holiday in the first seven years of their existence under the Startup India initiative. Startups are expected to create 250,000 jobs in India by 2020, up from 80,000 now, according to a <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">Nasscom</keyword> report.

Govt sets new rule for startups to quality for Startup India programme. Here it is

​ 
The Budget 2017 promises to be of great interest to the startup ecosystem in India, notably the fintech and e-commerce sectors after the demonetization move. 
 Incentivising and giving wider tax breaks to early stage <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> will encourage budding entrepreneurs while many think the government’s 3-year tax break is a short-sighted move. 
 
<a href="http://www.businessinsider.in/exclusive-what-moms-want-from-the-budget-2017/articleshow/56872243.cms">ALSO READ: Exclusive: What moms want from the Budget 2017</a> 
 It will also be the budget that will determine the success of the ‘<keyword id="3003094" type="UNKNOWN" weightage="20" keywordseo="Startup-India">Startup India</keyword>’ initiative that was unveiled on 16 January 2016, almost a year back. 
 
After the slump last year in investments, hopefully, the budget will bring good news for the emerging companies that need it the most. 
 The Department of Industrial Policy and Promotion (<keyword id="6391107" type="ORGANIZATION" weightage="20" keywordseo="DIPP">DIPP</keyword>), the one that created the startup policy, is also in discussions with the <keyword id="47209" type="ORGANIZATION" weightage="20" keywordseo="Finance-Ministry">Finance Ministry</keyword> to exempt startups from service tax, besides providing them relief on income tax-related issues. 
 
<a href="http://www.businessinsider.in/take-a-tour-of-oyo-rooms-attractive-new-property-townhouse/articleshow/56781794.cms">ALSO READ: Take a tour of OYO's attractive new property: OYO Townhouse</a> 
 
Here is how the upcoming budget might affect startups: 
 
• Lower holding period for long-term capital gains The primary matter of concern for startups in India has been <keyword id="6383566" type="PERSON" weightage="20" keywordseo="Taxation">taxation</keyword>. 
The DIPP has proposed that the period for long-term capital gains for unlisted securities should be reduced from the current limit of 24 months which can lead to higher investments. 
 
• Taxation of ESOPs during sale 
The DIPP has proposed that the employee stock option plans (ESOPs) for startups should be taxed at the time of sale of these stocks. Larger startups can now rejoice since this would provide them with transparency from a valuation perspective as well as further boost their liquidity from a tax outflow perspective. 
 
• Tax holiday period 
The tax concession period currently spans three years and there is a demand to increase this to between five and seven. If this demand is accepted then it could mean that there will be a huge increase in a number of start-ups. 
 
<a href="http://www.businessinsider.in/this-co-working-space-is-tailor-made-for-ai-data-science-iot-startups/articleshow/56874042.cms">ALSO READ: This co-working space is tailor-made for AI, Data science, IoT startups</a> 
 
Budget 2017 is also expected to promote cashless transactions and it may also make provisions for payment bank services targeted mainly at the unbanked and under-banked sections of society to make India more cash-less. 
 
The budget should aggressively focus on innovation-led businesses and some encouraging fiscal policies to make provisions to enable India to improve its Ease of Doing Business ranking by encouraging investments in startups.

What
should Indian startups hope for in Budget 2017

Last month, we told you about the government’s decision to lay out a <a href="http://www.businessinsider.in/Not-every-new-venture-can-be-called-a-start-up-says-the-Indian-government/articleshow/50495558.cms">concrete definition</a> of the word <keyword id="6404679" type="UNKNOWN" weightage="100" keywordseo="start-up">start-up</keyword>, so that only innovative companies could benefit from the “Start Up India, Stand Up India” initiative. 
 
Now, the government has set out the definition of a 'start-up' so that only deserving companies can be able to gain from the 'Startup India Action Plan' and to "create a conducive environment for startups in India". 
 
A government notification says that to be able to benefit from the plan, a 'start-up' should have at least 20% equity funding by any incubation, angel or private equity fund, and an accelerator or angel network duly registered with SEBI should be endorsing the innovative nature of the business. 
 
Only the companies that fulfil these conditions would be considered as start-ups up to five years from the date of incorporation till the time that their turnover exceeds Rs 25 crore. 
 
The government also wants a boost in innovation, therefore start-ups should be engaged in development, deployment or commercialisation of new products, processes or services driven by technology or intellectual property. 
 
In order to recognising a company as a start-up, the government will use a mobile application/portal until the launch of which, the Department of industrial policy and promotion (DIPP) will be planning an alternative. 
 
Benefits under the plan include a tax holiday and Inspector Raj-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus for funding. 
 
<a href="http://bw-image.s3.amazonaws.com/main/articles/Start-up--ST-lrg_3.jpg">Image source</a>

‘Start-up’ gets a proper definition; is your company covered under the 'Startup India Action Plan'?

In a bid to support entrepreneurial dreams, the <keyword id="105668" type="ORGANIZATION" weightage="20" keywordseo="Commerce-and-Industry-Ministry">Commerce and Industry Ministry</keyword> has urged all the states and the Union Territories to establish a '<keyword id="1007874" type="UNKNOWN" weightage="20" keywordseo="Startup-Hub">Startup Hub</keyword>' and <keyword id="907406" type="UNKNOWN" weightage="20" keywordseo="incubators">incubators</keyword>. 
 The Department of Industrial Policy and Promotion (<keyword id="6391107" type="ORGANIZATION" weightage="20" keywordseo="DIPP">DIPP</keyword>) has already set up the startup hub in April, which guides and handhelds startups, and has resolved over 12,000 queries of startups over telephone, email and twitter. 
 
"DIPP has requested state governments and administration of UTs to set up Startup Hub as well as incubators to help startups during various stages of development," DIPP release stated. 
 
It also said that the department will write to top companies requesting them to support the initiative by setting up new incubators or scale up existing incubators in collaboration with educational institutes. 
 
Further, it said that seven proposals for Research Parks, 16 proposals for TBIs (technology business incubators) and 13 proposals for startup centres have been recommended by the National Expert Advisory Committee formed by the HRD Ministry. 
 
"These proposals shall be implemented in the current financial year," it added. 
 All these steps are part of the Startup Action Plan announced by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> in January. 
 
The government unveiled a slew of incentives to boost startup businesses, offering them a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus to fund them. 
 
India has the third-largest number of startups globally. 
 
Commerce and Industry Minister Nirmala Sitharaman has asked the finance ministry to consider raising tax holiday for startups to seven years to encourage budding entrepreneurs.

Budding entrepreneurs will have incubators, startup hubs in their own states soon

Rs. 500 Crores for Standup India 
Government has shown great intent in promoting the start-up ecosystem in India. With Government's announcement to promote women entrepreneurship, and entrepreneurship in the SC/ST category, we will have an immense role to play along with MSME in making this initiative successful. We are honored with government's trust on associations like IESA and look forward to work in tandem to realize this socially important goal. 
 
Investment exists in <a href="http://www.businessinsider.in/searchresult.cms?query=start-ups">start-ups</a> in two years qualifies as Long Term Capital Gains and this encourages angel/venture capital infusion. Further, the simplification of norms for forming a company along with 3 year tax holiday will spur entrepreneurs to establish <keyword id="428085" type="UNKNOWN" weightage="60" keywordseo="start-ups">start-ups</keyword>. This reflects the commitment PM Modi made during the <a href="http://www.businessinsider.in/searchresult.cms?query=Start-up+India">Start-up India</a> Action Plan on Jan 16th. We are happy with Government’s initiative to boost local manufacturing and the <a href="http://www.businessinsider.in/searchresult.cms?query=start-up">start-up</a> ecosystem in India, with their decision to allow rebates to the <a href="http://www.businessinsider.in/searchresult.cms?query=SME">SME</a>s and also 100% deduction of profits to the start-ups. 
 
With Government’s announcement to promote women entrepreneurship and entrepreneurship in the SC/ST category with a propose budget of Rs. 500 Crores, we will have a critical role to play along with MSME in making this initiative successful. We are honored with Government’s trust on associations such as ours. We see this initiative as a great way to explore India Innovation Fun, IESA will work in tandem to realize this socially important goal. 
 
Rs. 1700 Crores on Skill Development 
Government’s focus in promoting entrepreneurial skills is the right step taken towards the growth of the ecosystem. The Investments made by Govt. to build skilled workforce will help increase employment in the country. 
 
This initiative will give impetus to implementation of national programmes like <a href="http://www.businessinsider.in/searchresult.cms?query=Digital+India">Digital India</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Make+in+India">Make in India</a>, Smart Cities as skilled workforce is at the core of the programs’ success, overall accelerating India’s <a href="http://www.businessinsider.in/searchresult.cms?query=economic+development">economic development</a>. 
 
Smart Transportation Initiative 
Glad to see focus on smart transportation from the government. It’s a known fact that the nation struggles with transportation related issues and we are pleased to see focus on implementing smart transportation through startup involvement. 
 
Excise Duty Amendment 
Exemption of BCD and SAD for ATMP for semiconductor wafer fabrication / LCD fabrication is a very well planned move and will certainly give a boost to local manufacturing especially to SMEs. Similar exemption extended to parts and components, sub parts for manufacturing of charger, adaptors, mobile phones, routers, modems, set- top boxes etc., will significantly go a long way in encouraging local production. 
 
Imposition of BCD on finished products like <a href="http://www.businessinsider.in/searchresult.cms?query=telecom+equipment">telecom equipment</a> etc., is a very well thought out to enhance domestic manufacturing and reducing import dependence. Reduction of BCD on specific capital goods for manufacturing of various fuses is a boost to component manufacturing and enriching the supply chain. 
 
Make in India 
Imports of assembled sub-systems like charger/adapter, battery and wired headsets/speakers for manufacture of mobile phone will cost 16.5% more due to withdrawal of Basic Customs Duty and Special Additional Duty. 
 
On the other hand, inputs, parts and components, subparts for manufacturing these and other electronics sub-systems have been reduced to 0%. Further, imports of populated Printed Circuit Boards will cost 2-4% more. Both these reflect a strong commitment to promote local value additions in electronics. 
 
(The article has been authored by MN Vidyashankar and Vinay Shenoy from the India Electronics and Semiconductor Association) 
 
Image credit: Indiatimes

Did Budget 2016 help India's Electronic Manufacturing?

I am hopeful that the <a href="http://www.businessinsider.in/searchresult.cms?query=Union+Budget">Union Budget</a> will keep up the good work set in motion by the ‘<a href="http://www.businessinsider.in/searchresult.cms?query=Startup+India+Stand+up+India">Start Up India, Stand Up India</a>’ initiative. 2015 was an exciting year for <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startups</a>. There has been phenomenal growth, and incredible excitement (and investments) into ideas. Ideas that could potentially solve some of the most serious problems India has – from transportation to healthcare. From financial inclusion to advanced robotics and more. The last 6 months in particular have seen big focus on <keyword id="6362513" type="ORGANIZATION" weightage="80" keywordseo="Startups">startups</keyword> from the government as well with Prime Minister Modi’s <a href="http://www.businessinsider.in/searchresult.cms?query=Startup+India+Stand+up+India">Startup India Stand up India</a> being the watershed moment. So clearly, aggressively pushing <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startups</a> and making it easier for them to start and painless for them to scale is critical for a strong, thriving economy that wants to grow at 10%. I think at an industry level the following things need to be done to enable growth. 
 
Firstly, we need to see more clarity on the next steps that detail out disbursement and get startups access to the fund of funds for start-ups. This would definitely encourage the promising <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneur">entrepreneur</a> community in India. The need of the hour is to improve the<a href="http://www.businessinsider.in/searchresult.cms?query=+Infrastructure"> Infrastructure</a> in the country and make much faster progress in connecting everyone and bringing them online. We need to take concrete steps to pick up the pace here and at least meet the targets set within the programs themselves. 
 
Another area that could help start-ups grow is greater clarity and sharper differentiation between goods and services, this would be very helpful to clear up the TDS requirements on <a href="http://www.businessinsider.in/searchresult.cms?query=app+downloads">app downloads</a> and TDS for software sales. The road map to GST in the upcoming budget will go a long way in both increasing the ease of doing business and reducing the cost of doing business. We expect the government to simplify tax regime for <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startups</a> to foster innovation and create conducive ecosystem for entrepreneurs in the country. While tax holiday certainly brings a sigh of relief, it may not be beneficial for many technology startups who do not make profits in initial years of their commencement. A longer tax break time period for <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startups</a> would be welcome as well as further simplification of tax and other regulatory requirements. Lastly, exits are a healthy sign for any startup ecosystem. Our 4 acquisitions in the last year have shown us that it can be quite onerous currently. Enabling faster, easier exits would be very welcome as well. 
 
From a healthcare perspective, up until now, the expenditure on healthcare has been limited and while India has the fastest growing population and an ambitious growth aspiration, it has always had a disproportionately small health budget. With the focus on <a href="http://www.businessinsider.in/searchresult.cms?query=Digital+India">digital India</a>, I hope the government provides provisions that drive digitization adoption by healthcare providers. Digitization can bring considerable efficiency in the system which will help alleviate a lot of challenges consumers face today due to the limited access/supply of healthcare providers in the country. Having digital records itself can considerably improve the quality of diagnosis and care consumers receive. The Government could incentivize, assist and enable more hospitals, clinics and other enterprises to leverage <a href="http://www.businessinsider.in/searchresult.cms?query=information+technology">information technology</a> (IT) to create patient-centric healthcare systems that can improve response times, reduce human error, save costs, and impact the overall quality of life. Another thing we should do is innovate and promote “<keyword id="6354869" type="UNKNOWN" weightage="80" keywordseo="make-in-India">Make in India</keyword>” initiatives in the medical devices sector as well as other sectors. There can be multiple models – the government can purchase and provide to PHCs or even take steps where device makers can procure these devices at a more affordable price. I think for the cost that vast majority of Indian market can sustain, importing won’t be viable so the Make in India program could really help in this aspect and special focus on this area in the budget would be welcome. I am also optimistic that the government incentivises the <a href="http://www.businessinsider.in/searchresult.cms?query=public+healthcare">public healthcare</a> system to work more closely with the innovation driven by <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startups</a> in India to solve many of the problems they face – without necessitating increase in public health expenditure. 
 
 With these steps, <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startups</a> can continue to thrive and solve some of the most fundamental problems that plague our country, add considerable growth to our economy and help further establish India’s innovation credentials. In short, I expect and hope that this budget would place a new milestone towards acknowledging and supporting the role of entrepreneurs in shaping <a href="http://www.businessinsider.in/searchresult.cms?query=Digital+India">Digital India</a>.” 
 
(The author of the article is <a href="http://www.businessinsider.in/searchresult.cms?query=Shashank+ND">Shashank ND</a>, Founder and CEO, <a href="http://www.businessinsider.in/searchresult.cms?query=Practo">Practo</a>)

Here's what Practo's CEO wants from Budget 2016

Government agencies may not relax procurement norms for <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> on prior experience and turnover criteria in respect of goods that might have implications on public safety and health. 
 
The government had earlier said that all central ministries and department "may relax" condition of prior turnover and prior experience in public procurement to all startups if they meet quality and technical specifications. 
 
But a doubt had arisen if it makes optional for central ministries and departments to relax the condition of prior experience and turnover in public procurement to startups, said an office memorandum of Expenditure Department. 
 
It said that "normally" for all public procurement, government departments and ministries should ensure that experience and turnover criteria are relaxed. 
 
"However, there may be circumstances (like procurement of items related to public safety, health, critical security operations and equipment) where procuring entities may prefer the vendors to have prior experience rather than giving orders to new entities. 
 
"For such procurements, wherever adequate justification exists, the procuring entities may not relax the criteria of prior experience/ turnover for the startups," the statement said. 
 India has the third-largest number of startups globally. In January, Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> had unveiled a slew of incentives for them including tax holiday, inspector raj-free regime, capital gains tax exemption, Rs 10,000 crore corpus to provide funds, and relaxation in procurement norms. 
 In its October monetary policy review, the <keyword id="50847" type="CITY" weightage="20" keywordseo="Reserve-Bank">Reserve Bank</keyword> said startups can raise external commercial borrowings (ECBs) of up to 3 million in a financial year, with a view to boosting innovation and promoting job creation.

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