Union Budget review by Faircent.com

Mr. Rajat Gandhi, Founder and CEO, Faircent.com, a start up which is also India's largest peer to peer lending website which caters to retail and business loans:

"With the various proposals made by the Hon'ble Finance Minister, today's Union Budget seems to have touched upon some of the core points pertaining to the overall development of the startup ecosystem in India.

To give startups a 100% deduction of profits for 3 out of 5 years as promised by Hon'ble Prime Minister is heartening but it is to be seen how many start ups are able post profits. Maybe it will bring in the urgency in startups to post profits.

The other notable aspect is creating IP and patenting it, more than the financial incentive which FM has given, the incentive highlights the importance of patents which the Indian entrepreneurs quite often ignore while creating theirs businesses.

The creation of the hub for SC / ST entrepreneurs and Rs. 500 crore fund for women entrepreneurs is a good initiative, I think the focus should be in supporting those ventures which are solving problems pertaining to these under-privaliged groups.

However reducing the benefit of long term capital gain regime to two years denies startups of the initial handholding that is much necessary."

Source : Equity Bulls

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