Pre-Budget expectations quote on behalf of UrbanClap , Carzonrent, Timesaverz , Ecorentacar , SaleBhai , SHEROES.in , ExportersIndia.com, Onlymobiles.com :-
1. Quote on behalf of Mr. Abhiraj Bhal(Co-founder, UrbanClap) :-
"Keeping the startup industry in mind, the most important thing for a government to do, is to steer clear of setting too many policies and rules as well as making doing business very straightforward and easy. Minimum governance is actually very good."
2. Quote on behalf of Ms. Shylaja Shreedharan, Head of Finance of Timesaverz
"Government is being sustained with high tax collection due to demonetization hence expect the budget to propose low personal & Corporate tax rates. Start-up India Campaign Initiatives which kick started in last year would yield and benefit, if more of Indirect and Direct tax incentives are announced by the government. "Digital India" a buzz word after demonetization drive - expect some tax exemption for digital transactions which will be a good incentive for E commerce startups"
3. Quote on behalf of Ms. Sairee Chahal,Founder & CEO,SHEROES.in
“We look forward to more investment in healthcare and education sector. It would also be nice to see some work around lowering women tax and making the items affordable there by working on gender parity. And lastly, would be great to have support for the startup world.”
4. Quote on behalf of Mr. Rajiv Vij (MD & CEO, Carzonrent.com)
"On various occasions the Government has spoken about its strong agenda around ‘Smart Cities’. It will be a welcome step on the Finance Minister’s part to spell out specific initiatives to be implemented during the course of the year along with related budgetary allocations and measures to address the crowded metro cities’ rampant urbanization in the past by bringing about planned development, which match global standards of modern cities in developed economies. This will go well for the estimated $150 billion foreign investment the sector needs.
The major concern in the development process is inadequate infrastructure, congested roads, parking problem and increasing pollution levels ,where the solution lies in the introduction of shared economy in urban mobility complemented by technology to encourage change in car ownership pattern. This can remove 25 on road cars with one car – thus reducing traffic woes and easing pressure of creating parking infrastructure for exploding population of automobiles owing to improving economic profiles of households. Introduction and clarity of policy and regulatory framework in urban car rental services’ formats, like self-drive/ car sharing will help the cause and also encourage investments in the segment. Allowing private car owners to share their cars with others using car sharing platforms and removing inter-state entry tax on cars/taxis will be welcome steps”
5. Quote from Mr. Sunil Kumar Gupta, Founder & Director, ExportersIndia.com:
"With the demonetization drive and the digital push, it has dawned on the SMEs that shifting their business online is the need of the hour and they are looking ahead expectantly on the upcoming budget. The government’s intention of lowering Corporate Tax to 25% announced in FY 16 has raised hope for a further plunge this year anticipating a drop up to 18%, including all surcharges and cess with withdrawal of all tax incentives, concessions etc. This would not only boost the overall tax revenue, lead to job creation but also turn India into an attractive international investment destination. With cashless economy and the given trends of incentivising cashless transactions on focus, it seems that more such schemes encouraging digital payments in the FY 17 may be announced that are sure to set the cash registers ringing for online businesses. GST is one of the best things to happen to B2B E-commerce; its early implementation and addressing issues related to Tax Collection at Source, treatment of refunds and cancellations etc. should spur the growth of SMEs. Additional measures to strengthen the Government initiatives such as ‘Make in India’, ‘Start up India’ and ‘Skill India’ is sure to be in consideration and will boost the growth of entrepreneurial SMEs."
6. Quote on behalf of Mr Aditya Loomba, Joint Managing Director, ECO Rent A Car.
"I expect this year's budget to be a special one focusing on key growth agendas of our government. I hope that this years budget provides much needed stimulus to tourism, road infrastructure and the hospitality industry. The performance of the car rental industry in FY16 has been varied
It is crucial to bring more power in to related sectors like transportation, tourism, automotive, construction, etc. which will help to boost the GDP of the Country.
It is equally important to put a thrust on the improvement of the road infrastructure as this will benefit the mobility services providers, like us, as people will see improving road network enable them to plan their travel by road, reduce travel time, de-congest the existing roads as alternate routes will be developed.Also, this will boost the car rental sector and encourage people to undertake more trips via using self-drives or other options of car-rental services."
7. Quote on behalf of Mr. Vishwavijay Singh, Co-founder, SaleBhai.com:
"We still have to see proper implementation of the slew of initiatives announced in the last Budget session. While a tax holiday of not less than five years would help startups, even the three-year relaxation for those set up between April 2016 and March 2019 is underutilised because of the tedious registration process.
I feel the government also needs to set aside indigenous funds to support the startup ecosystem in the country and decrease its current dependency on foreign funds.
Another much-needed change is required in the banking sector. Both private and government banks need to have a policy in place for startups. Apart from help in opening accounts, there isn't anything on offer. We hope to see some dramatic changes and concrete steps being taken to help startups, especially e-commerce, from the upcoming Budget."
8. Quote on behalf of Mr Shrutam Desai, Co Founder, Onlymobiles.com
"This budget is very important as we are expecting it to be the foundation stone for GST rollout. Govt should step forward and provide more clarity over dual layer GST structure - state GST & centre GST. We expect government to make TDS claims process easier. Service tax eats big chunk of the profitability right now. and there are instances where we are seeing dual taxation on the same service. Govt should act upon the same. Though govt cannot force state governments at this juncture but central govt must push state govt to abolish entry taxes which are being levied by different states.'
9. Quote on budget expectations from Mr. Vinaya Varma, CEO of mjunction
Expectations from Annual Budget
"I look forward to a budget which carries forward the Prime Minister's vision of a Digital India in the truest sense of the term. Let e-governance be the order of the day, and let e-payments and digital wallets be more incentivised in order to eradicate corruption from its very roots. I am also looking forward to implementation in letter and spirit of the Prime Minister's Startup India programme. This will boost innovative thinking and fresh ideas so crucial for India's economy now."Apart from this kindly let us know if you are interested for a telephonic interaction with Mr.Varma to discuss on the following talk points:
• e-commerce in coal, steel and tea sector
• Future and growth plans on mjunction
• Demonitisation and the impact on our economy