Startups Get the Spotlight in Budget 2019

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The finance minister stressed on the ‘Gaon, Garib and Kisan’ in the budget which clearly aims at enabling the rural economy.

The budget presented by the finance minister Nirmala  Sitharaman discussed startups and small businesses more than one could have thought of. Modi government has been in regular dialogue with the industry bodies and association in order to ease out regulatory compliance and take a few steps in the direction of boosting self-employment in semi urban and rural areas.

“With its focus firmly on accelerating country-wide development, the budget focused on a slew of measures for the rural sector, SMEs and startups. The measures for the rural sector including better infrastructure and road connectivity will boost consumption and make rural markets more accessible to modern retail,” said Kumar Rajagopalan, CEO, Retailers Association of India.

Budget has been observed to have a huge inclination towards rural businesses. The finance minister stressed on the ‘Gaon, Garib and Kisan’ in the budget which clearly aims at enabling the rural economy. “The various schemes announced by the finance minister like Pradhan Mantri MatsyaSampada Yojana, cluster-based rural industrialization for promoting 50,000 artisans, 75000 skilled agri entrepreneurs, overall focus on dairy sector, developing 10,000 new farmer producer organisations and zero budget farming are all very laudable,” said Dr H K Bhanwala, Chairman, NABARD.

A TV channel has also been launched for startups which is expected to promote young and aspiring entrepreneursfrom tier-II and tier-III cities discussing growth issues, matchmaking with venture capital (investors) for funding and tax planning.

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“This programme will be run by startups themselves that will help the new and emerging entrepreneurs of tier II and tier III cities,” said Vinay Singhal, Co-Founder & CEO – WittyFeed adding that the government has focused more on the ‘Bharat’ to build 80 livelihood incubators, 20 tech incubators to help create 75,000 skilled entrepreneurs in agriculture and rural industry.

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Startups Get the Spotlight in Budget 2019

by Sameer Dhanrajani Time to Read: 1 min
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