Union Budget - Reaction - Ecommerce, Travel, Fitness, Cosmetics
Mr. Sachin Goel, CEO, HomePunch.com, an online marketplace for home and kitchen appliances.
The Budget gives us a sense of confidence as a start-up, where investment in further development of e com platforms looks promising . The FM has been generous with reduced taxes for small companies and the provision of tax on profits for three out of seven years compared to earlier three out of five years. Tax relief for individuals in lower income band (from 2.5 to 5 lac) will boost consumerism owing to higher disposable income. Focus on pushing the digital payments practice, youth and jobs are also other welcome moves, which will lead to increasing economic activity and economy moving towards growth environment for ecom.
Mr. Aurvind Lama Co-founder CEO of Mr. Lama, Travelyaari
"A lot was expected from this year Union Budget, not all but we are happy to see few of them being fulfilled .The union budget presented bought in progressive outlook with due importance given to infrastructure development and tech development. The investment proposed in building National Highways along with developing road network is a welcome step especially for player like us in bus industry. This infrastructural development will greatly benefit the travel and tourism. Focus on improving internet and broadband connection in rural areas will go a long way to digitize cashless economy and connecting them to the main stream. The governments focus on inclusion and encouragement of the MSME sector along with Startups is also visible. Profit linked deductions to 3 years out 7 will be helpful for emerging startup players."
Amaresh Ojha, Founder and CEO Gympik
"Budget 2017 has been positive for the startup sector, the increase in window will give more time to start-ups to reach a stage when they start earning profits before they exercise their option for income tax exemption.This will be a good news for the companies which are in hyper growth mode. This tax reduction was much needed for smaller companies. A lot of attention has been put in the healthcare and wellness domain. Expecting the government to implement all the plans and policies effectively for the coming financial year."
Mr Gursahib Singh Sethi, Co-Founder, Travkart.com
"The budget will be a soothing balm for economy and tax payers. Further to the announcement for increase in railway connectivity to the remote areas and upgradation of airports in Tier 2 cities, a huge number of people will be able to travel smoothly from Tier 2 and Tier 3 cities. The high speed internet connectivity in rural areas will be the biggest advantage to them. This will help them to do more purchasing and online bookings. We are expecting more travel coming ahead. Along with this, reducing the income tax to 5% for the people having an earning bracket of 2.5 lac -5 lacs, it will be a crucial factor in their saving. This will increase their budget to travel and will also motivate youngster and young entrepreneurs to pay taxes."
Mrs. Ratna Chadha, Chief Executive, TIRUN, an exclusive India representative of Royal Caribbean Cruises Ltd. "Cruise tourism also be given impetus as it really helps in employment. It's a big bonus to see tier 2 cities having airports, people living there also have aspiration value. Its great people will get to go abroad as we have huge deployment across the world."
Mr Sankalp Chopra, Co-?founder, SeaSoul Cosmeceuticals "The focus on energising youth & create jobs would help the young companies like our benefit and support by attracting young & energised talent especially now tax slabs have been reduced. Along with this improved and high speed broadband connection in rural and tier 2 and 3 cities will be critical for the companies Especially for those who wants to propagate into tier 2 & tier 3 markets not just to sell products but also to upskill at low low cost using digital platforms."