For businesses in India, the Union Budget each year is one of the most sought after events, even more important than an India Pakistan cricket match. Much like an exciting cricket match, it is awaited with hope, expectations, nervous moments and a whole lot of excitement. This year is no different. In light of the government’s ‘Make in India’ initiative and other similar steps being taken to help grow businesses in India, we in the Startup world are indeed very expectant and hopeful, even more so this year!
Here’s my list of key expectations: 1) Start-ups like ours at Coverfox.com, the insurance sector and specifically fintech companies, generally, have a heavy dependence on domestic capital, which is typically risk-averse, and hence scarce. The budget should consider ways to incentivize domestic capital in these market spaces. The Budget should also consider relaxation in structures which make private secondary transactions more liquid from a tax or complication perspective.
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