NSRCEL Organises Discussion on ‘Budget and Beyond’ for Start-ups

Must read

IMC Ladies’ Wing in Partnership with UN Women Launches “Aamchi Mumbai, Safe Mumbai”

The Ladies' Wing of IMC Chamber of Commerce and Industry, on the occasion of the International Womens Day, launched the project Aamchi Mumbai,...

Dr. Narayan Hulse’s Book on Joint Replacement Unveiled by Shri Tejasvi Surya

A book authored by Dr. Narayan Hulse- Director - Department of Orthopedics & Joint Replacement at Fortis Hospital, Bannerghatta Road was unveiled by...

Korikart Launches First Flagship Store at DLF Galleria Market, Gurugram

Indias leading one-stop online store for Korean products, Korikart has launched its first standalone store at DLF Galleria market, Gurugram on March 5th,...

Leading Indian and Global Investors Adopt WinPE’s Charter for Gender Diversity

WinPE's founding members have signed a Charter for Gender Diversity, outlining the fundamental principles that will guide their collective action on increasing gender...

In the wake of the recent Budget announcement for 2021 – NSRCEL – the hub of Entrepreneurial Activity at IIMB organized a panel discussion on Budget and Beyond for the startup ecosystem.

NSRCEL brought together ecosystem players like Mohandas Pai – Chairman Aarin Capital and Manipal Global Education, Siddarth Pai – Founding Partner and CFO – 3one4 Capital and Karan Bajaj – Founder and CEO – Whitehat Jr. The session was articulately moderated by Prof. K.Kumar – Dean – Alumni Relations & Development and Professor of Entrepreneurship at IIM Bangalore.

This Panel discussion was based on the implications of the recent budget on the startup ecosystem and the road ahead to facilitate growth in the ecosystem.

Prof. K.Kumar

Prof. Kumar spoke about how the significance of Budget has changed and there is still a lot of work to be done for regulations. He was of the opinion that only if one creates wealth can we distribute wealth.

Mohandas Pai felt that the budget has not made funding easier for startups! Extending the tax Holliday scheme for startups by one year will not have much impact because of onerous conditions, the capital gains exemption too is too restrictive to be of any use! The PLI scheme will finally give wings to Make in India schemes., sadly start-up founders continue to redomicile overseas because of lack of adequate local funding and restrictive RBI policies! India is at risk of becoming a Digital Colony by 2025 because of inadequate policy responses to incentivize local funding! The budget has been a disappointment for startups!

Siddarth Pai says that it is tough to be credited for being innovative. One Person Company is fantastic for sole proprietorships but a significant drawback, is the very fact that it has a single shareholder. Angel Tax, Section – 68 are essentially, attacks on the startup ecosystem. Cost of capital is also at an all-time high. He feels that India might become a land of subsidiaries unless these issues are addressed & domestic capital is unshackled.

Karan Bajaj said that the government has made start-ups accessible to set-up and that is why they are growing across the country. The recent budget continues to be a positive development. The start-up ecosystem needs to be nurtured as they will go a long way in helping to achieve Make in India.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

IMC Ladies’ Wing in Partnership with UN Women Launches “Aamchi Mumbai, Safe Mumbai”

The Ladies' Wing of IMC Chamber of Commerce and Industry, on the occasion of the International Womens Day, launched the project Aamchi Mumbai,...

Dr. Narayan Hulse’s Book on Joint Replacement Unveiled by Shri Tejasvi Surya

A book authored by Dr. Narayan Hulse- Director - Department of Orthopedics & Joint Replacement at Fortis Hospital, Bannerghatta Road was unveiled by...

Korikart Launches First Flagship Store at DLF Galleria Market, Gurugram

Indias leading one-stop online store for Korean products, Korikart has launched its first standalone store at DLF Galleria market, Gurugram on March 5th,...

Leading Indian and Global Investors Adopt WinPE’s Charter for Gender Diversity

WinPE's founding members have signed a Charter for Gender Diversity, outlining the fundamental principles that will guide their collective action on increasing gender...

Aujas Cybersecurity Rolls out “Saksham” – A Product to Swiftly Comply with the RBI Account Aggregators Framework

Aujas Cybersecurity, one of the leading enterprise security service providers announces a launch of "Saksham" which enables organizations to quickly and reliably test...