Startups Wish List From Union Budget 2017-18

BW Businessworld organised a pre-budget 2017 expectations round-table on Tuesday (31 January) powered by Zee Business at India Habitat Centre in New Delhi. The panelists who participated in the 'Startups Session - 1' were Rashmi Verma, Executive Director & Co-founder, MapmyIndia; Neerav Jain, Founder, CityFurnish.com; Kanika Khanna, Founding Director at Sunkalp Energy and Rajat Gandhi, Founder & CEO, Faircent. The session was moderated by Vaishali Dar, Editorial Head, BW Disrupt.

The theme of the discussion was startups wishlist from budget 2017 and all panelists shared their views, expectations and what opportunities they are looking out from the government from this budget for their respective sectors.

Rashmi Verma, Executive Director & Co-founder, MapmyIndia, said, "Women entrepreneurs should be encouraged and the government should plan rules and regulations for making the business easy. Also, the government should be giving incentives to women entrepreneurs to increase the base of women entrepreneurship dramatically. The government this budget should announce something for encouraging 1st generation women entrepreneurs who are building their business from scratch. Side by side I would vouch for a single window clearance model to get hold of the licenses, or any sort of corporate development."

Neerav Jain, Founder, CityFurnish.com, said, "I would highly look forward to the government this budget to announce something that eases the way of doing business for professional entrepreneurs and corporates rather than distributing freebies or subsidies to the common man. I think it's time to take the tough calls rather than only catering to the common problems in the country. "

Kanika Khanna, Founding Director at Sunkalp Energy, said, This budget I would want the government to actually hold the hand of their solar companies for a little while more. Giving tax exemptions or subsidies for the high cost of implanting solar appliances is what we have been requesting for a long time. Also if the excise and customs duties can be looked at simultaneously with the GST and inserted in the 0% bracket, it would be great for the startup solar private sector."

Rajat Gandhi, Founder & CEO, Faircent, said, " From this budget, I would desire to have a better startup ecosystem since it has been 1 year since the startup India campaign was announced and now it's time to implement all the plans. It is not very unusual to think of tax exemptions or corporate tax breaks, as an entrepreneur but it would be better to strategize for a long term gain. If I were to make the budget, I would actually clear the RBI's regulation about P2P regulation which is being scrutinised at the Ministry of Finance table right now, as it would bring about a new way to avail cheaper credit for MSMEs."