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Early industry reactions to the Indian budget 2021

01 Feb 2021  by   India Tech Online

Professional organizations: Nasscom: “The plan to set up a world-class fintech hub and the allocation of INR 1,500 crore to provide financial incentives for digital payments are certainly positive steps towards realizing a cashless economy. The proposal to amend apprenticeship law to boost skilling is a welcome step to further enhance employability in the country. Start-ups and SMEs play a critical role in defining India’s growth story. While there have been steps taken such as incentivizing incorporation of one-person companies and the extension of claiming tax holidays and capital gains for one more year, this was a perfect opportunity to do something disruptive for the sector, like extending the available tax holiday of 3 years to all start-ups registers under DPIIT, which would impact over 40000 start-ups in the country.