With the launch of the ‘Start-Up India Campaign’, being itself a startup at first, curiosity has been built around Voonik on what the budget will offer so that the company’s target of $100 GMV run rate is achieved by 2017.
Looking forward to startup friendly policies and initiatives, Sujayath Ali, CEO & Founder, Voonik.com shared his Budget-2016 wish-list with SMEpost.com–
- Reward Diversity in Startup workforce: Government should encourage diversity, by giving certain tax benefits to encourage inclusion of women in startup workforce.
- FDI in B2C E-commerce: Clarity on FDI policy and definition of what entails a marketplace is required.
- Removal of Angel / Startup Tax: Finance Minister mentioned that provisions will made in the Income Tax Act for exemption to a notified class of investors, we are still awaiting details.
- Staggered/Laddered Service tax: Some laddering like that of Income tax slabs should be given to startups to help them being able to invest a part of revenues to business and reduce dependence on VC funds.