Interim Budget 2019: Here’s what startups are expecting from the Union Budget

New Delhi: February 1 is just around the corner and the government is all set to present its last budget before the Lok Sabha election. Interim finance minister Piyush Goyal will be presenting the budget as Arun Jaitley is in the US on medical leave. People are expecting the government to announce some benefits for the poor and middle-class in the budget.

The government is also expected to announce a farmer package in order to increase the income of farmers and solve the agrarian crisis. There are further expectations that the government might hike the Income Tax exemption limit from Rs 2.5 lakh to Rs 5 lakh. Some positive announcement for the MSME sector is also expected.

The BJP-led NDA government launched Startup India campaign in 2016 to promote startups in India. According to experts, this campaign brought startups under the limelight and gave it the focus it deserved, both in terms of innovation, job creation and wealth and value creation.

Here’s what the Startups expect from this Budget

1. More clarity on Angel Tax.

2. Policy thrust to increase digital transactions.

3. Total abolition of Minimum Alternate Tax.

4. Address the issue of ‘ease of shutting down’.

5. Tax holiday for government registered startups from 3 to 5 years.

6. More clarity on disbursal from Fund of Funds.

7. Clarity on tax on ESOPs.

8. Boost establishment of incubators and accelerators.

9. Soften GST rates from current 18% for fund managers.

10. Separate policy for hybrid instruments to attract investments.