A major economical push

Amit More, Founder and CEO, Finzy. Finance Minister Nirmala Sitharaman's Budget has a lot of welcome changes and initiatives to push India in the direction of becoming a USD 5 trillion economy in the coming years. The proposed Budget tries to maintain a balance between growth, inclusion and fiscal prudence. The TDS of 2% to be

Jul 8, 2019 - 05:30
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A major economical push
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Amit More,
Founder and CEO,
Finzy.

Finance Minister Nirmala Sitharaman's Budget has a lot of welcome changes and initiatives to push India in the direction of becoming a USD 5 trillion economy in the coming years. The proposed Budget tries to maintain a balance between growth, inclusion and fiscal prudence. The TDS of 2% to be levied on cash withdrawal over 1 crore rupees in a year is a step towards reinforcing digital payment in the country. Also, the removal of IT scrutiny for angel funding will further help in resolving tax issues for the startups.  Overall the budget comes as a support for startups by creating a specialized pool of talent and an environment for smooth business operations. 

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