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Budding Hope: Startups Anticipate Favorable Schemes in Upcoming Budget

Startups Hope for Budget Boost and Tourism Reforms in Bharat

Editor Ritam English by Editor Ritam English
Jan 30, 2024, 09:52 am IST
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Entrepreneur Siraj Dhondh has expressed optimism about potential benefits for startups in the upcoming interim budget for 2024. Dhondh emphasized the need for schemes that make capital-raising easier and more affordable for startups. Speaking to ANI, he also highlighted the importance of increased availability of land and plots, especially in Industrial Development Centers (IDCs) across Bharat. Dhondh emphasized the significance of effective implementation and penetration of existing schemes.

In addition to the startup focus, Dhondh stressed the importance of reforms in the tourism sector, considering it as the backbone of Goa’s economy. He pointed out that Goa competes with international destinations like Thailand and Vietnam, which offer attractive incentives and schemes for inbound tourism. Dhondh suggested that Goa needs reciprocal measures, ranging from visa policies to tax structures, to attract more tourists.

Regarding taxation, Dhondh urged the government to relax the Goods and Services Tax (GST). According to him, a more lenient GST would enhance the competitiveness of Goa against international destinations, attracting foreign tourists who are willing to spend more. Dhondh believes that such measures can significantly contribute to the influx of high-paying tourists into Goa.

The upcoming Budget session of the Parliament, scheduled to begin on January 31 and continue until February 9, is particularly crucial as it precedes the general elections expected in April-May. Union Finance Minister Nirmala Sitharaman is set to present the interim budget on February 1. The interim budget typically addresses the fiscal needs during the period until a new government is formed after the Lok Sabha polls.

To discuss various aspects of the upcoming session, a meeting of floor leaders from different political parties in both Houses of Parliament will be convened on Tuesday by the Minister of Parliamentary Affairs, Pralhad Joshi. The outcomes of the budget and potential reforms in the startup and tourism sectors will be eagerly anticipated by entrepreneurs and stakeholders alike.

Tags: Budget sessionBudget 2024Entrepreneur Siraj DhondhStartups
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