Post-Budget Quote By Puneet Gupta, Founder And CEO Of AstroTalk And Gem Selections, A unit Of Khanna Gems Pvt Limited - GADGETS & INNOVATIONS

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Friday, July 5, 2019

Post-Budget Quote By Puneet Gupta, Founder And CEO Of AstroTalk And Gem Selections, A unit Of Khanna Gems Pvt Limited

 

“The announcement by the government of not scrutinising the startups and investors who have filed the returns has provided a major relief to the startup community.  Furthermore, it has brought comfort to tax woes of the community as returns of startups will not be subjected to any scrutiny from the Income Tax department as more than half of the startups in India have received Angel tax notices. 


The proposal to establish a channel under Doordarshan bouquet dedicated only to start-ups is an excellent idea by the government. There are already a few start-up shows run by private channels to make people aware of the start-up industry and its working but this will be the first channel that will be handled by start-ups itself. This will not only boost the enthusiasm of the entrepreneurs but will help budding entrepreneurs to keep an eye on the important updates from the industry and make informed decisions for their start-ups.


Internet connectivity is a major challenge for startups that provides services through apps and websites. Government decision to provide internet connectivity Under Pradhan Mantri Grameen Digital Saksharata Abhiyan will help not only startups reach to masses but people of these towns to take the advantages of the services provided by it.” 


Pankaj Khanna, Founder & Managing Director, Khanna Gems Private Limited-

1. The industry was expecting that the import duty on gold will be reduced but on the contrary it has been increased. This will have a damping effect on the entire Gems and Jewellery industry. The jewellery sales to tourists will also suffer because of high-cost.

2. Numerous majors have taken to enable MSE & MSME tap the organised market. The will help the industry to grow and enable new startups to make their presence felt.

3. The reduction of corporate tax from 30% to 25% will improve the plough back of profits and give the small and medium enterprises an opportunity to use their own resources to fund their growth.



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