Nirmala Sitharaman

Govt to constitute a dedicated cell under CBDT to solve tax issues for startups on priority

No tax harassment will take place and no independent inquires, assured the FM

Filing GST to be simplified and GST refunds will be automated, the government said

Angel tax notifications had been issued to more than 2,000 startups last year

Temporary relief measures were announced in Feb following protests by entrepreneurs

Now Section 56(2)(viib) of the Income Tax Act will not apply to DPIIT-registered startups

Indian government has opened up an INR 10K Cr liquidity window for home financiers

Next week, FM Sitharaman and bank chiefs are expected to discuss priority areas for the banking sector

UK and France have toppled India from the position of the fifth-largest economy to seventh in 2018

She was speaking at the fourth anniversary celebration of Skill India Mission

The minister urged the youth to actively participate in the implementation of govt schemes

She also noted SBI’s initiative to offer loans to safai karamcharis

Startup ecosystem unenthused as important points remained unaddressed by the budget

The government’s tax reforms have been welcomed by many startups

Lack of disbursal of funding from Startup India FoF remains a chief concern

The FM did not mention creating 1 Lakh Digital Villages in the budget, as promised in Interim Budget

Outlays to set up 80 Livelihood Business Incubators and 20 Technology Business Incubators in 2019-20

The PM Gramin Digital Saksharta Abhiyan has made over 2 Cr rural Indians digitally literate

Budget has not allocated funds toward building the Seed Fund as promised

There is no talk of creating an Innovation Fund or Innovation Zones

The budget does not fall in line with the Startup India Vision 2024, believes Pai

Govt will set up e-verification to identify the source of investor funds

On angel tax exemption, FM Sitharaman went with the existing method

Special arrangements will be made for the tax grievance redressal for startups

This will be the first Union Budget presented by new finance minister Nirmala Sitharaman

Sitharaman will have to temper govt spending to balance out rising fiscal deficit

Startups will be looking for affirmative action from the govt in form of funds, tax compliance

• The Defence India Startup Challenge plans to leverage defence startups and connect them with the Indian forces
• Shortlisted startups & MSMEs will be provided aid of up to $220K (INR 1.5 Cr) to meet the challenge
• A separate procurement process has been laid out for startups to directly collaborate with the defence forces

The Artificial Intelligence Task Force Designated By Nirmala Sitharaman Will Look To Digitise The Manufacturing Sector

The Startup India Virtual Hub Was Launched In June 2017 As A One-Stop Destination For The Ecosystem Stakeholders