Budget 2015: Rs 1,000 Cr Fund Is A Confidence Booster But Start-Ups Fear Red Tapism

The Rs 1000 crore fund set aside for IT start-ups in the Budget 2015 would pave way for entrepreneurs to explore opportunities in newer sectors, provided the proposed techno-financial, incubation and facilitation programme, or Self-Employment and Talent Utilisation (SETU) does not turn out to be a panel of bureaucrats giving rise to red tapism.

What would really help small tech firms is if the government addressed the issues that really affect day-to-day operations of start-ups such as double taxation levied on software vendors, which significantly increases the TCO, explains Sanchit Vir Gogia, Chief Analyst and Group CEO, Greyhound Research. This has been pending since the UPA government regime and needs to addressed on priority basis.

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