The Union Budget 2020 has showered India’s startup ecosystem with interesting promises. Appreciating the emergence of startups in India, Finance Minister Nirmala Sitharaman announced that an investment cell will be launched for startups. The budget earmarked Rs 27,300 crore for the development of the industrial sector. A move to strengthen the MSME sector through the National Logistics Policy is also in cards. Meanwhile, tax relaxation has come as a great relief to startups. The budget has also announced the formation of an app-based invoicing platform for MSMEs. According to experts, the budget will nurture India’s startup ecosystem.
Benefits for startups promised in the Union Budget 2020
Tax relaxation for startups
Investment cell for startups
App based invoicing platform for startups
Digitized invoicing will reduce the workload of MSMEs
Permit for data center parks
National Level Science Scheme for growth of tech clusters
Rs 8,000 crore for National Mission of Quantum Technology and Application
National Logistics Policy to make MSMEs more competitive
