News
India
Union Budget is commendable as it decouples vision, policy from financial planning: Angel investor
05 Mar 2016, 06:15 am
New Delhi, Mar 2 (NITN): Ravi Kiran, angel investor and Co-Founder, VentureNursery has said the 2016 Budget, which was presented by Arun Jaitley on Monday is commendable as it decouples vision and policy from financial planning.
"Many Government programs initiated and announced earlier--rural income, agriculture, infrastructure, social sector, small businesses, housing--got financial action supporting them," Kiran said.
He said, "Government’s emphasis on usage of technology in many areas – land records, educational degree certificates, agri produce procurement, new company registration and even income tax records is commendable. The Rs 1000 crore Higher Education Fund and the decision to make 20 higher education institutions world class could have a transformative outcome."
"It’s a Budget that aims to benefit our farmers, poor women, new employees, very small and small businesses. What’s good for the poor and the Economy cannot be bad for any business, including start-ups," said Kiran.
He said that while the one-day company registration, SC-ST entrepreneurship, are useful, they are not sufficient. Income Tax waiver for 3 years for start-ups, reduction of time frame for long term capital gains to 2 years, waiver of capital gains tax if the gains are invested in Government approved Funds, and if the investment is made by an individual in a company majority owned by him, all look good as head line thoughts, but aren’t meaningful in the real world.
"Measures to give fillip to start-ups reflect inadequate understanding of the start-up ecosystem by our policy makers," Kiran said.
"The budget lacks any real attempt to increase the base of angel investors and corporate angels, and introduce incentives for people to take high risks and invest in disruption and innovation," added Kiran, who in his personal capacity has been an angel investor for 4 years.
More News
- Parampara founder Debabrata Sen brings Ayurveda to Gen Z with interactive session at Kolkata school
- Sona Institutions to open a College of Nursing at Salem
- Vee Technologies’ engineering division delivers 3,000th fire truck design for the US
- Jagannath comes to Kolkata: Up to 10 lakh devotees expected at Vishwashanti Mahayagya from April 17
- New Sheriff Goutam Ghose to unlock Kolkata's buried colonial past — records untouched since the East India Company
- Sona College’s Fashion Technology Dept. opens admissions to its 4-year B Tech program
- Som Tales: Soma Bose’s podcast celebrates the power of storytelling and conversation
- Prabha Khaitan Foundation and WWF-India to celebrate the unsung guardians of India's forest and wildlife
- Vee Vault Capital invites first cohort of high-potential founders
- Sona College student Team Nexus AI designs an intelligent PLC programming assistant
Spirit Airlines Halts Opera ...
Spirit Airlines, the ultra-low-cost carrier known for offering some of the cheapest airfares in exchange for limited onboard services, has announced it is shutting down operations after 34 years in business.
IndiGo Launches Direct Chen ...
IndiGo has launched direct flights linking Chennai with Réunion Island, a French territory in the Indian Ocean, from April 29, 2026.
Fuel crisis hits skies: Luf ...
The ongoing conflict in Iran is exerting significant pressure on the global aviation sector, with rising jet fuel prices and supply concerns creating challenges for both airlines and passengers.