Expectation from new Finance Minister - Skillbox

Mr. Anmol Kukreja, Co-Founder & CEO, Skillbox. SkillBox is an art social network for artists, art-related businesses and art enthusiasts.

After the resounding mandate given to the Modi Govt. in the 2019 Union Election, we expect the government to unleash a series of economic reforms to turn India into an economic powerhouse. Start-ups will play a vital in this transformation by fostering innovation and generating employment. Therefore, we expect the government to maintain the momentum of the Start-Up India programme by streamlining taxes and making GST and TDS filing on a quarterly basis for startups, who are currently reeling under the pressure of working capital crunch due to monthly filing. It should also ease FDI and RBI rules and make the regulatory environment easier for start-ups who are raising funding overseas. Filings and compliances are quite cumbersome and we expect the government to make the process frictionless through an entirely online process. We believe going 'cashless' is the way to go to improve transparency in the country's economy and reforms around that would be welcome. Last but not the least, the government should draft a new law to penalize parties who do not honor payments within 60 days of invoice raising. This will go a long way in improving trust between parties and make the country business friendly.

Source : Equity Bulls

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