Over the past few years, the startup industry has witnessed a huge growth in the country. From 3,100 startups in 2014 to a projection of more than 11,500 by 2020, this industry is definitely growing at a very fast pace making India the world’s fastest growing startup eco-system.
However, a right balance and more concrete efforts from the government are required to further accelerate the growth of startups in India.
We have several expectations from the government in the upcoming budget.
Recently our Prime Minister announced Start-up action plan, we expect government to include announcements made in the action plan in the budget and make budgetary provisions accordingly.
Directional policies for ease of doing business, tax incentives, availability of risk capital, etc are various announcements which need to be further simplified so that each stakeholder can get benefited from this.
This industry is growing every day, changing the way the markets work in India. We look forward to the Union Budget 2016 to create a favorable environment for the growth of startups.
(Author Puja Bansal is Founder & Director, MyHeera.com. The views in the article are personal, not that of CNN-IBN/IBNLive)
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