Budget Bytes: Digital Boost

Wednesday, 1 February 2017

Aneesh Reddy, 
CEO and Co-founder, Capillary Technologies

"As a retail and technology centric startup, we were hopeful around 3-4 high impact areas revolving around digitization measures, GST, corporate and individual taxation laws and differential duties on certain products.

It was heartening to hear about the Digital theme focused measures revolving around digital payments through BHIM app and Aadhar based payment initiatives. The referral bonus and the cashback schemes would further encourage cashless transactions by consumers and adaptability by merchants.

The MAT credit extension from 10 years to 15 years will help start-ups and companies in investment phase to utilize their MAT credits for a longer period. 

However, it would have been more beneficial to waive off MAT for start-ups entirely. MAT eats up the cash in the initial years when they need it the most.

Although the Finance Minister, had suggested that GST bill will spur economic growth, we were hoping for an announcement on the implementation of  GST bill starting this financial year.  

Overall, this budget has created the most positive impact as far as digitization measures are concerned. 

The digital transformation initiatives coupled with a spike in the digital transactions would encourage more startups like ours to play a vital role in innovating and significantly contributing to boost the digital economy in the country."

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