New Delhi, July 03, 2019- India’s much awaited Union Budget for the fiscal year 2019-20 will be presented by the Finance Minister Nirmala Sitharaman on July 05, 2019. This budget is expected to lay focus on start-up eco-system in the country and announce various incentives for the next few years.
Here are some of the organizations in India including start-ups with their expectations from this year’s budget (Fiscal 2019-20)
Nishant
Pitti, Co-Founder & CEO, EaseMyTrip: “Travel and tourism industry
in India accounts for more than 9% of the GDP of India and creates great
opportunities for employment and foreign-exchange. So, I believe that
government will definitely focus on this sector in Union Budget of 2019. There
should be fund allotment for the infrastructural developments, be it the
airports and railway stations, tourist places or other facilities. In fact,
major initiatives should also be taken to promote our heritage destinations on
global level. There must be no delay in refund of GST since the postponement in
the refund blocks the working capital and creates stress for the industry. From
this budget as well, I am expecting the continuation of tax immunity for
start-ups and small enterprises. This will help them in grow more.”
Pitti, Co-Founder & CEO, EaseMyTrip: “Travel and tourism industry
in India accounts for more than 9% of the GDP of India and creates great
opportunities for employment and foreign-exchange. So, I believe that
government will definitely focus on this sector in Union Budget of 2019. There
should be fund allotment for the infrastructural developments, be it the
airports and railway stations, tourist places or other facilities. In fact,
major initiatives should also be taken to promote our heritage destinations on
global level. There must be no delay in refund of GST since the postponement in
the refund blocks the working capital and creates stress for the industry. From
this budget as well, I am expecting the continuation of tax immunity for
start-ups and small enterprises. This will help them in grow more.”
Vipin
Raghavan, Co-founder and CEO, Haber: “At Haber, we would love to
see the Indian government reward startups for R&D investments. Haber is
creating cutting edge technology, some of which solve problems unique to Indian
industry. It would be great to see the Indian government back us and other
innovators – one way is an R&D tax credit similar to those seen in some of
the other economies like the US and Switzerland or increase the allowable
deduction which is now 1.5 times” Vipin Raghavan, Co-Founder and CEO of Haber,
a robotics-as-a-service company.”
Raghavan, Co-founder and CEO, Haber: “At Haber, we would love to
see the Indian government reward startups for R&D investments. Haber is
creating cutting edge technology, some of which solve problems unique to Indian
industry. It would be great to see the Indian government back us and other
innovators – one way is an R&D tax credit similar to those seen in some of
the other economies like the US and Switzerland or increase the allowable
deduction which is now 1.5 times” Vipin Raghavan, Co-Founder and CEO of Haber,
a robotics-as-a-service company.”
Kabir
Siddiq, Founder, SleepyCat: “The government is now stronger post the
electoral bout and we are hoping for stronger leaps on transformation, particularly
in the startup space. There definitely have been various schemes set up for
startups, and it is easier to do business as well. However, we believe it could
be made better. Ease in regulatory access is what we look forward to. There are
a lot of compliance and documents to be submitted by one corporation to a large
number of departments in order to cover PF, employee benefits, and other
licenses etc. We are hoping for reforms in filling of compliance and other tax
reforms that would ease the burden for small and medium enterprises, as well
integration with other ERP solutions to make things easier on the GST front.
Siddiq, Founder, SleepyCat: “The government is now stronger post the
electoral bout and we are hoping for stronger leaps on transformation, particularly
in the startup space. There definitely have been various schemes set up for
startups, and it is easier to do business as well. However, we believe it could
be made better. Ease in regulatory access is what we look forward to. There are
a lot of compliance and documents to be submitted by one corporation to a large
number of departments in order to cover PF, employee benefits, and other
licenses etc. We are hoping for reforms in filling of compliance and other tax
reforms that would ease the burden for small and medium enterprises, as well
integration with other ERP solutions to make things easier on the GST front.
Looking
forward to the new Finance ministers effort in crowdsourcing information. Hope
that would lead to some good democratic decisions.”
forward to the new Finance ministers effort in crowdsourcing information. Hope
that would lead to some good democratic decisions.”
Sadiq
Sait, Founder and Chief Executive Officer, uLektz Learning Solutions: “As
per the Public Procurement Policy for MSEs Order 2012, the Central Ministries,
Central Departments and CPSUs have to mandatorily procure at least 20% from
Micro & Small Enterprises including Startups. It would be very helpful for
the startups, if a mechanism is created to audit and ascertain that this policy
is strictly followed by the Government agencies. Also, for startups doing
business with the government and collecting payments are still challenging even
after introducing MSME Samadhaan – Delayed Payment Monitoring
System.”
Sait, Founder and Chief Executive Officer, uLektz Learning Solutions: “As
per the Public Procurement Policy for MSEs Order 2012, the Central Ministries,
Central Departments and CPSUs have to mandatorily procure at least 20% from
Micro & Small Enterprises including Startups. It would be very helpful for
the startups, if a mechanism is created to audit and ascertain that this policy
is strictly followed by the Government agencies. Also, for startups doing
business with the government and collecting payments are still challenging even
after introducing MSME Samadhaan – Delayed Payment Monitoring
System.”
Ajoy
Khandheria, Founder, Gramin Healthcare: “Ensuring accessible,
good quality healthcare in rural India remains the biggest challenge in the
healthcare sector. The government needs to direct financial resources to build
the primary healthcare infrastructure in rural and remote areas, and that is difficult
unless public spending on healthcare goes up from 1.15%. When over two-thirds
of the sector is driven by private players, the government should be more
willing to get into a partnership-based approach with them to achieve universal
health coverage in line with the UN’s sustainable development goals. We also
want the government to increase the tax exemption for preventive health
checkups and promote preventive care practices to bring down the disease burden
of non-communicable diseases, which are currently responsible for 61% of deaths
in the country. We also need their support to help reduce our dependence on
China for Active Pharmaceutical Ingredients. It will bring down the
manufacturing cost and market price of drugs, and make them more affordable for
people living in remote/rural areas.”
Khandheria, Founder, Gramin Healthcare: “Ensuring accessible,
good quality healthcare in rural India remains the biggest challenge in the
healthcare sector. The government needs to direct financial resources to build
the primary healthcare infrastructure in rural and remote areas, and that is difficult
unless public spending on healthcare goes up from 1.15%. When over two-thirds
of the sector is driven by private players, the government should be more
willing to get into a partnership-based approach with them to achieve universal
health coverage in line with the UN’s sustainable development goals. We also
want the government to increase the tax exemption for preventive health
checkups and promote preventive care practices to bring down the disease burden
of non-communicable diseases, which are currently responsible for 61% of deaths
in the country. We also need their support to help reduce our dependence on
China for Active Pharmaceutical Ingredients. It will bring down the
manufacturing cost and market price of drugs, and make them more affordable for
people living in remote/rural areas.”
Satkam
Divya, CEO, KLINICAPP: “Today India is facing a triple burden of
malnourishment that is underweight, overweight & micronutrient deficiency.
In the past decade, it has become a prime concern for the healthcare facilities
since the burden is observed mostly in the youth and that is somehow affecting
the overall Economy of the country.
Divya, CEO, KLINICAPP: “Today India is facing a triple burden of
malnourishment that is underweight, overweight & micronutrient deficiency.
In the past decade, it has become a prime concern for the healthcare facilities
since the burden is observed mostly in the youth and that is somehow affecting
the overall Economy of the country.
Since
all these problems can be sorted at the elementary level but due to the lack of
facilities today, problems like these remain undetected. The budget of
healthcare 2019 is expected to create public healthcare facilities in small
towns and rural areas where it is difficult to treat people that can be easily
cured if the problem is found in time. There should be the availability of easy
loans for setting up of viable healthcare infrastructures in smaller cities and
towns.
all these problems can be sorted at the elementary level but due to the lack of
facilities today, problems like these remain undetected. The budget of
healthcare 2019 is expected to create public healthcare facilities in small
towns and rural areas where it is difficult to treat people that can be easily
cured if the problem is found in time. There should be the availability of easy
loans for setting up of viable healthcare infrastructures in smaller cities and
towns.
It is
also observed that the medical facilities provided by the government cannot
meet the demands of the top tier hospitals and also that 80% of the medical
facilities are heavy on the pockets of the normal individual. About 50% of the
expenditure that is heavy on the pocket goes from loans that eventually cause
financial debt on the Indians. Therefore, it is necessary to create cheaper and
easily affordable healthcare facilities.
also observed that the medical facilities provided by the government cannot
meet the demands of the top tier hospitals and also that 80% of the medical
facilities are heavy on the pockets of the normal individual. About 50% of the
expenditure that is heavy on the pocket goes from loans that eventually cause
financial debt on the Indians. Therefore, it is necessary to create cheaper and
easily affordable healthcare facilities.
Coming
back to the triple burden faced by Indians today these issues can be sorted
easily if one makes a little more effort for the lower strata without ignoring
the fact that there are many facilities already available for the people. It
all comes down to how aware the person is for their right towards a healthy
lifestyle. This also opens up a new sector within the public health expectation
of door to door errands for a better gap filling that is present between the
present facilities and the people who need them.”
back to the triple burden faced by Indians today these issues can be sorted
easily if one makes a little more effort for the lower strata without ignoring
the fact that there are many facilities already available for the people. It
all comes down to how aware the person is for their right towards a healthy
lifestyle. This also opens up a new sector within the public health expectation
of door to door errands for a better gap filling that is present between the
present facilities and the people who need them.”
The
ground level orientation is very necessary that is the part where the selection
of the healthcare professionals arrives and also the institutional shortcomings
need to be looked upon. Elaborating the point: the medical colleges that have
begun to set up at every corner and every street need to stop since quality
education and quality professionals are needed for the people of our country.
ground level orientation is very necessary that is the part where the selection
of the healthcare professionals arrives and also the institutional shortcomings
need to be looked upon. Elaborating the point: the medical colleges that have
begun to set up at every corner and every street need to stop since quality
education and quality professionals are needed for the people of our country.
Ayushman
Bharat is an excellent step towards universal healthcare in India but needs to
accommodate tertiary health care facilities. The expectation of people needs to
meet along with the expectation of healthcare professionals.
Bharat is an excellent step towards universal healthcare in India but needs to
accommodate tertiary health care facilities. The expectation of people needs to
meet along with the expectation of healthcare professionals.
As per
the majority of the healthcare professionals at the secondary and tertiary
level, the basic problem arises at the primary level or the grass root level
which is very week causing an overflow of patients at the higher level which
ultimately leads to the need of strengthening the lower level.
the majority of the healthcare professionals at the secondary and tertiary
level, the basic problem arises at the primary level or the grass root level
which is very week causing an overflow of patients at the higher level which
ultimately leads to the need of strengthening the lower level.
Ultimately
it all comes down to how well the primary level is equipped to help the people
so that they are helped when the situation can be handled with ease, rather
than pushing people to the point where they face problems that cause them a
lifetime to overcome the debt of medical finances.”
it all comes down to how well the primary level is equipped to help the people
so that they are helped when the situation can be handled with ease, rather
than pushing people to the point where they face problems that cause them a
lifetime to overcome the debt of medical finances.”
Arijit
Biswas, Co-Founder, EnrichA: “In the technology
space, we are hoping that the government makes investments on Training &
Seminars on AI & IOT for senior management of all leading industries in
HealthCare, Energy, Automobiles and Agricultural sectors along with framing Unified
National Policy to boost Blockchain innovation. We also expect financial
incentives such as preferential tax rates and the tax holiday to be provided to
companies relocating from China. This would help the businesses to conduct
themselves in a composed manner even after relocating. We also expect the
government to urge public sector undertakings to commit funds for indigenous
startups to foster, nurture and incubate new ideas related to their respective
sectors.”
Biswas, Co-Founder, EnrichA: “In the technology
space, we are hoping that the government makes investments on Training &
Seminars on AI & IOT for senior management of all leading industries in
HealthCare, Energy, Automobiles and Agricultural sectors along with framing Unified
National Policy to boost Blockchain innovation. We also expect financial
incentives such as preferential tax rates and the tax holiday to be provided to
companies relocating from China. This would help the businesses to conduct
themselves in a composed manner even after relocating. We also expect the
government to urge public sector undertakings to commit funds for indigenous
startups to foster, nurture and incubate new ideas related to their respective
sectors.”
Anmol
Kukreja, Co-Founder & CEO, Skillbox: “After the resounding mandate
given to the Modi Govt. in the 2019 Union Election, we expect the government to
unleash a series of economic reforms to turn India into an economic powerhouse.
Start-ups will play a vital in this transformation by fostering innovation and
generating employment. Therefore, we expect the government to maintain the
momentum of the Start-Up India program by streamlining taxes and making GST and
TDS filing on a quarterly basis for startups, who are currently reeling under
the pressure of working capital crunch due to the monthly filing. It should
also ease FDI and RBI rules and make the regulatory environment easier for
start-ups who are raising funding overseas. Filings and compliances are quite
cumbersome and we expect the government to make the process frictionless
through an entirely online process. We believe going ‘cashless’ is the way to
go to improve transparency in the country’s economy and reforms around that
would be welcome. Last but not the least, the government should draft a new law
to penalize parties who do not honor payments within 60 days of invoice
raising. This will go a long way in improving trust between parties and make
the country business friendly.”
Kukreja, Co-Founder & CEO, Skillbox: “After the resounding mandate
given to the Modi Govt. in the 2019 Union Election, we expect the government to
unleash a series of economic reforms to turn India into an economic powerhouse.
Start-ups will play a vital in this transformation by fostering innovation and
generating employment. Therefore, we expect the government to maintain the
momentum of the Start-Up India program by streamlining taxes and making GST and
TDS filing on a quarterly basis for startups, who are currently reeling under
the pressure of working capital crunch due to the monthly filing. It should
also ease FDI and RBI rules and make the regulatory environment easier for
start-ups who are raising funding overseas. Filings and compliances are quite
cumbersome and we expect the government to make the process frictionless
through an entirely online process. We believe going ‘cashless’ is the way to
go to improve transparency in the country’s economy and reforms around that
would be welcome. Last but not the least, the government should draft a new law
to penalize parties who do not honor payments within 60 days of invoice
raising. This will go a long way in improving trust between parties and make
the country business friendly.”
Email: startupterminal@gmail.com
