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The bucket list: IndiaTech CEO Rameesh Kailasam's suggestions for Budget 2021 to encourage entrepreneurship

IndiaTech CEO Rameesh Kailasam’s suggestions for Budget 2021 to encourage entrepreneurship and boost the Indian startup ecosystem

The bucket list: IndiaTech CEO Rameesh Kailasam's suggestions for Budget 2021 to encourage entrepreneurship

Friday January 29, 2021 , 1 min Read

IndiaTech CEO Rameesh Kailasam makes the following suggestions to encourage entrepreneurship and boost the Indian startup ecosystem:

  1. Formulate a long-term wealth creation strategy to boost the startup ecosystem.
  2. Ease listing regulations so that startups go public in India and not overseas.
  3. Make it easier to do business in India, review GST rules and create a level-playing field. 
  4. Review the rules that increase the cost of compliance and restrict startups’ ability to earn revenue.
  5. Relook at rules that make procurement from online overseas entities cheaper.
  6. Think of innovative ways to improve market access without impacting government revenue.
  7. Remove tax on ESOPs to help startups attract talent and compensate employees.
  8. Allow startups to directly list on overseas stock exchanges to help them raise capital and let investors exit.
  9. Bring clarity in regulations and offer incentives to encourage the flow of domestic capital into startups.
  10. Relook at Section 194(O) of the Income-Tax Act that imposes TDS on e-commerce transactions.

For YourStory's multimedia coverage of Budget 2021, visit YourStory's Budget 2021 page or budget.yourstory.com