Nagpur: Entrepreneurs have welcomed the Union Budget presented by finance minister Nirmala Sitharaman on Saturday. They said the measures for start-ups will help boost India’s economic growth and promote skill development.
Deepak Menaria, founder and chief idea farmer at Lemon Ideas, said two things are really good in the Budget. “The seed fund for start-ups called ‘Early Life Funding’ will support ideation and development of entrepreneurship. At early stage, not much funding is available. They have announced it, so let us see what is the framework. Second is taxation. Making employee stock options (ESOPs) plan tax free will help start-ups to retain employees,” he said.
Menaria added that announcements on skill building will help MSMEs and start-ups so would the single window for investment clearance.
Rohan Parikh, director of The Green Acres Academy, said as a country gearing up to have the largest ‘working population’ in the age group of 15 to 65 years of age by 2030, Budget 2020 has adequately focused on building a robust structure to drive higher education and skill development. “From creating an efficient workforce of engineers, doctors, bio-medics and IT professionals to nurturing skill-based qualities for entrepreneurs, sales and marketing professionals or commercial fine arts etc, the Budget has taken into consideration the inclination of the youth and aligned it to the economic growth targets, thereby strengthening the role of education in building the $5 trillion economy,” he said.
Nilabh Kapoor, business head India, OLX People, said Union Budget 2020 is definitely a step towards boosting India’s economic growth. “The very first theme of the budget, ‘Aspirational India’, promises better livelihood for all, access to health care and greater job opportunities through education and skill development. The boost to entrepreneurship, start ups and skill development in the infrastructure sector is a welcome move that will help create jobs directly. A total of Rs3,000 crore has been allocated for skill development, which shows the government's commitment towards encouraging employment growth rate and boosting the skill sector,” he said.
Pramodh Chandrashekhar, founder CEO of Last Ripple, said the government has done credible work on start ups. But, Chandrashekhar felt, the allocation should have been 2 or 3 per cent more.
Deepak Menaria, founder and chief idea farmer at Lemon Ideas, said two things are really good in the Budget. “The seed fund for start-ups called ‘Early Life Funding’ will support ideation and development of entrepreneurship. At early stage, not much funding is available. They have announced it, so let us see what is the framework. Second is taxation. Making employee stock options (ESOPs) plan tax free will help start-ups to retain employees,” he said.
Menaria added that announcements on skill building will help MSMEs and start-ups so would the single window for investment clearance.
Rohan Parikh, director of The Green Acres Academy, said as a country gearing up to have the largest ‘working population’ in the age group of 15 to 65 years of age by 2030, Budget 2020 has adequately focused on building a robust structure to drive higher education and skill development. “From creating an efficient workforce of engineers, doctors, bio-medics and IT professionals to nurturing skill-based qualities for entrepreneurs, sales and marketing professionals or commercial fine arts etc, the Budget has taken into consideration the inclination of the youth and aligned it to the economic growth targets, thereby strengthening the role of education in building the $5 trillion economy,” he said.
Nilabh Kapoor, business head India, OLX People, said Union Budget 2020 is definitely a step towards boosting India’s economic growth. “The very first theme of the budget, ‘Aspirational India’, promises better livelihood for all, access to health care and greater job opportunities through education and skill development. The boost to entrepreneurship, start ups and skill development in the infrastructure sector is a welcome move that will help create jobs directly. A total of Rs3,000 crore has been allocated for skill development, which shows the government's commitment towards encouraging employment growth rate and boosting the skill sector,” he said.
Pramodh Chandrashekhar, founder CEO of Last Ripple, said the government has done credible work on start ups. But, Chandrashekhar felt, the allocation should have been 2 or 3 per cent more.
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