NITN | @notintownlive | 25 Jul 2024, 03:22 am
Photo courtesy: PR Team
Eastern India’s leading Infra and e-commerce start up founder, Laxman Jaiswal said in a statement that the Union Budget of India for the fiscal year 2024 has been widely anticipated for its potential impact on various sectors, including angel investors, start-ups, and real estate.
This year's budget is designed to foster economic growth, innovation, and sustainable development, reflecting the government's commitment to transforming India into a global economic powerhouse.
One of the standout features of the 2024 budget is the suite of incentives aimed at angel investors and start-ups. Tax Relief for Angel Investors shall attract more investments into the start-up ecosystem.
The Start-up tax holiday extension from the current three years to five years shall provide emerging businesses with additional time to stabilize their operations without the burden of tax liabilities, encouraging more entrepreneurs to enter the market.
The simplification of compliance shall ease the regulatory burden on start-ups, reducing the number of filings and providing a single-window clearance system will streamline operations and allow start-ups to focus more on innovation and growth.
Another feature of the Union Budget is increased funding for incubators and accelerators to support incubators and accelerators across the country.
Also he opined the proposal to create new job opportunities as well support for the SME sectors are equally noteworthy.
Jaiswal adds that infrastructure and skill development shall surely further bolster the start-up ecosystem, the budget has laid out plans for improving infrastructure and skill development:
Jaiswal gives thumbs up to the budget and says, as a startup founder of gintaa-ecommerce, I feel that this budget shall greatly bolster the startup ecosystem.
Speaking on his other area of business interest ie; real estate, Laxman Jaiswal says, "The real estate sector, a significant contributor to India's GDP, has received a substantial boost in the 2024 budget. He highlights affordable housing push as well as infrastructure development.
"The budget emphasizes large-scale infrastructure projects, including the construction of new roads, highways, and urban transport systems. Improved infrastructure will enhance connectivity and spur real estate development in peripheral areas, leading to balanced urban growth."
"I feel that the reduction in stamp duty shall stimulate the real estate market as well as the Single-window clearance for real estate projects thereby reducing project approval times encouraging more investment in the sector."
Laxman Jaiswal concludes, "The Union Budget of India 2024 presents a comprehensive plan to drive growth and innovation across critical sectors. With these strategic initiatives, the budget sets the stage for a prosperous and sustainable future for India."
Laxman Jaiswal is the Chairman of Ascon Infra Ltd and Founder of the start up food delivery e-commerce platform, gintaa.
- My bid to internationalise Shatatantri Veena among next generation pays off: Santoor maestro Tarun Bhattacharya on his return from US Tour
- Rotary Calcutta Metro City hands over football and fitness kits to Nayagram Thana Balika Vidyapith in Jhargram
- Peerless Hospital hosts MedisafeCon 2024 to improve patients through accurate diagnosis
- Prabha Khaitan Foundation explores global partnerships in Hawaii for art, culture, literature and sustainability
- Kolkata hosts the 3rd edition of Chitra Devi Music & Dance Festival
- Alive India Foundation: Reviving Indian music and empowering young talent
- Arya.ai founder to create global open source community to boost Safe Super Intelligence ecosystem
- National Teachers Award 2024: Thiagarajar Polytechnic College faculty honoured by President Murmu
- Third edition of Chitra Devi Music and Dance Festival will be held in Kolkata's Rotary Sadan on September 15
- Salem’s Sona College named Outstanding Engineering Institution
Jazeera Airways, Kuwait’s leading low-cost carrier, is offering 50% off on fares to all destinations across its network from July 28 to 31.
New Delhi : Air India Express, a subsidiary of Air India and a part of the Tata group, has launched its "Time to Travel" sale on the airline’s website, airindiaexpress.com, the Air India Express mobile app and other major booking channels.
Tokyo: Airlines were forced to cancel over 300 flights following the collision between a Japan Coast Guard aircraft and a Japan Airlines passenger plane at Tokyo's Haneda Airport on Tuesday evening even as reports said the plane was cleared to land ahead of the tragedy.