The bucket list: IndiaTech CEO Rameesh Kailasam's suggestions for Budget 2021 to encourage entrepreneurship
IndiaTech CEO Rameesh Kailasam makes the following suggestions to encourage entrepreneurship and boost the Indian startup ecosystem:
- Formulate a long-term wealth creation strategy to boost the startup ecosystem.
- Ease listing regulations so that startups go public in India and not overseas.
- Make it easier to do business in India, review GST rules and create a level-playing field.
- Review the rules that increase the cost of compliance and restrict startups’ ability to earn revenue.
- Relook at rules that make procurement from online overseas entities cheaper.
- Think of innovative ways to improve market access without impacting government revenue.
- Remove tax on ESOPs to help startups attract talent and compensate employees.
- Allow startups to directly list on overseas stock exchanges to help them raise capital and let investors exit.
- Bring clarity in regulations and offer incentives to encourage the flow of domestic capital into startups.
- 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