However, the association is disappointed that the long standing demand of the industry is not met which would have further boosted the start-up ecosystem in India
BestMediaInfo Bureau | Mumbai | March 1, 2016
After the budget was announced yesterday, the Internet and Mobile Association of India (IAMAI) has welcomed the budgetary announcements made by the Union Finance Minister, Arun Jaitley.
Reacting to the budget, Subho Ray, President, IAMAI, said, “The focus on leveraging technology to streamline distribution and the proposed steps for ease of doing business in India are indicative of the government’s resolve towards Digital India and supporting entrepreneurship.”
A long standing demand of the association on the proposal for Amendment of Companies Act to register start-ups in one day is a welcome move, and is a step closer towards ease of doing business in India.
The body has also welcomed the following announcements in the Union Budget 2016:
The association however had different pre-budget expectations which suggested more on the taxation front to waiver of capital gains tax, waiver for VC funds, to bring them at par with stock markets and so on. It is disappointed that the long standing demand of the industry is not met which would have further boosted the start-up ecosystem in India.