The Union Budget is a big disappointment for startups: Mohandas Pai

Share via:

According to T V Mohandas Pai, partner at Aarin Capital and former CFO of Infosys, despite Finance Minister Nirmala Sitharaman mentioning the word startup nearly a dozen times in her speech while presenting the Union Budget 2023-24, the Budget once again ignored startups and failed to address the key issues of the Indian startup ecosystem.

With the exception of a few announcements, such as the relaxation of startup eligibility for carrying forward losses and the extension of the incorporation date for startups to receive tax benefits, Budget 2023 reversed course by bringing foreign investors under the ambit of angel tax. However, Pai hailed the overall Budget 2023, calling it “remarkable”. He praised the Budget for emphasising improving the standard of living for all Indians and increasing infrastructure spending.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

The Union Budget is a big disappointment for startups: Mohandas Pai

According to T V Mohandas Pai, partner at Aarin Capital and former CFO of Infosys, despite Finance Minister Nirmala Sitharaman mentioning the word startup nearly a dozen times in her speech while presenting the Union Budget 2023-24, the Budget once again ignored startups and failed to address the key issues of the Indian startup ecosystem.

With the exception of a few announcements, such as the relaxation of startup eligibility for carrying forward losses and the extension of the incorporation date for startups to receive tax benefits, Budget 2023 reversed course by bringing foreign investors under the ambit of angel tax. However, Pai hailed the overall Budget 2023, calling it “remarkable”. He praised the Budget for emphasising improving the standard of living for all Indians and increasing infrastructure spending.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at [email protected]

More like this

Miranda Bogen is creating solutions to help govern AI

To give AI-focused women academics and others their...

Byju’s founder, ousted by shareholders, says rumors of his...

Byju Raveendran, the founder of eponymous edtech group...

Business As Usual At BYJU’s, Co’s Comeback Inevitable Now:...

SUMMARY Byju Raveendran said he continues to be the...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!