Union Budget 2022-23 likely to give more incentives to boost startups
“It’s raining unicorns,” – this will grab headlines in 2022, and Finance Minister Nirmala Sitharaman’s task is well cut out. Sitharaman in the forthcoming Union Budget, could come up with more incentives and policy measures keeping an eye on creating the right ecosystem for unicorns to come up, reliable sources told India Narrative.
In her last budget, the finance minister announced extension of tax holidays for startups along with exemption of capital gains for investment till March 31, 2022. Access to credit and tax incentives are areas that would be looked into.
“We will further focus on startups and unicorns. Expect more policy measures in the budget,” an insider told India Narrative.
The Unicorns, which are startups valued over $1 billion, are expected to go in for large scale employment generation in the coming months as well.
Notwithstanding the Covid pandemic, last year, more than 30 startups in India made it to the prestigious Unicorn list.
Inaugurating the 25th National Youth Festival, Prime Minister Narendra Modi said that about 10,000 start-ups have come up in India despite the Covid 19 pandemic in the last few months.
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