As a natural corollary to the demonetization process, the time is ripe to increase the tax exemption limit and also the corporate tax limits. Steps should also be taken to help startups tide over its immediate effects. Furthermore, with the increase in cash flow within banks, advanced technological infrastructure will help facilitate seamless transactions and improve the overall banking system as we enter into the new financial year.
A startup hub, India is currently home to the third largest number of technology driven startups in the world. The previous year witnessed multiple markdowns in the country’s startup ecosystem and, therefore, to propel this forward, the PM’s flagship ‘Startup India’ project should receive an impetus in the upcoming budget.”
The author, Bhavin Turakhia is Co-Founder and CEO, Directi.
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