Union Budget 2019 Reaction - Mr. Vivek Goyal, Co-Founder of PlayShifu, an augmented reality technology startup
12:04 PM: To start a new TV channel for startups under the Doordarshan umbrella. Channel to be managed by startups themselves, the FM says.
A dedicated TV channel managed by startups themselves is a tremendous way of spreading awareness about the innovation startups bring to Indian, and even global, economy. While startups can garner visibility through this channel, people can stay up-to-date with the latest developments in the Indian startup circle.
It also proves that we are not just mimicking established ecosystems and the government is going out of their way to fuel the Indian startup circle.
11:59 AM: Government to focus on new-age skills including artificial intelligence, 3D printing, which also have a market outside India, to enable people to get jobs outside India.
I think it is a step towards a positive change that can change India's international stance in terms of innovation. It's time to change India's face from a SaaS provider to a tech-savvy product creator! Technology like AI, AR, VR, 3D printing and more are already playing an instrumental role in connecting with the next generation by making products that they understand and were born and brought up with.
12:44 PM: Propose to ease angel tax norms. Funds raised by startups will not require any scrutiny by the income tax department, the FM says.
Angel is the most effective way of taking ideas from 0 to 1. As we have seen there is lot of growth capital available in India but innovative ideas from tier-II cities often don't see the light of the day because of lack onf angels. Angel network needs to grow out of metros to tier-II cities to make India really a startup economy and such tax reforms will go a long way in doing that.