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Union Budget 2024: Bigger Focus On Consumer Spending Will Drive India Startup Story

Inc42 · 1y ago

Union Budget 2024: Bigger Focus On Consumer Spending Will Drive India Startup Story

Much anticipation surrounds the Union Budget 2024 as the Indian startup ecosystem eagerly awaits measures to support and nurture their growth. There is hope for an increased focus on startups this time around, particularly due to anticipated initiatives that will encourage consumer spending, boost infrastructure, generate employment opportunities, and potentially revise income tax slabs. While the previous budgets did not effectively address startup needs, there is optimism that this budget will prioritize the Indian startup story.

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Can Budget's R&D Push Transform India Into A Product Economy?

Inc42 · 1y ago

Can Budget's R&D Push Transform India Into A Product Economy?

In her Budget 2024 speech, the Finance Minister announced the operationalization of a INR 1 lakh R&D fund, a INR 1,000 crore venture capital fund, and funding support for agri-tech startups focused on research and development. The startup ecosystem stakeholders are hopeful that these measures will drive innovation in sectors like deep tech and space tech. However, an investor emphasized the need for quality professors, research infrastructure, and increased R&D spending to transform India into a product-led economy.

Will union budget 2024 boost the startup ecosystem’s progress

Inc42 · 1y ago

Will union budget 2024 boost the startup ecosystem’s progress

The article discusses the expectations and anticipation surrounding the Union Budget 2024 in India, particularly its impact on the startup ecosystem. With India's startup ecosystem being the third-largest globally, stakeholders are keen to see how fiscal measures in the budget will shape the growth trajectory. Key expectations include the standardization of capital gains tax, expansion of tax deferral on ESOPs, inclusive tax regimes for different types of firms, and flexibility in the personal tax regime. These measures are seen as potential catalysts for fostering a conducive environment for startups and attracting investments.

PM Modi to focus on jobs, incomes in first budget after election setback

VCCircle

VCCircle · 1y ago

PM Modi to focus on jobs, incomes in first budget after election setback

Indian Prime Minister, Narendra Modi, is expected to focus on job creation and income growth in the upcoming federal budget, following a setback in the recent general election. Modi's party did not secure a majority, and he is now reliant on two regional allies for support. Finance Minister Nirmala Sitharaman will present the first budget of Modi's third term on 23 July, which will reveal any potential changes to economic policies. The budget is expected to include increased spending funded by a surplus transfer from the Reserve Bank of India, as well as initiatives to promote domestic manufacturing and consumption.

The Consumption Bet

Business Today

Business Today · 6m ago

The Consumption Bet

Finance Minister Nirmala Sitharaman's Union Budget 2025-26 focuses on boosting domestic manufacturing, investments, and consumption amid rising external uncertainties. The budget aims to align fiscal and monetary policies to drive a consumption surge that could potentially revive economic growth. However, it remains to be seen if this strategy will succeed in mitigating the challenges posed by global economic factors and stimulate sufficient domestic economic activity to achieve desired outcomes.

Startup conclave to be organised in Gandhinagar on December 7

Economic Times

Economic Times · 1y ago

Startup conclave to be organised in Gandhinagar on December 7

Gandhinagar will host a startup conclave on December 7 as part of the Vibrant Gujarat Global Summit 2024. Attended by unicorns, venture capitalists, and business leaders, the event will focus on regulatory reforms, tax incentives, and improving the startup ecosystem. Discussions will include a review of venture capital and private equity investment in India and Gujarat, addressing challenges in innovation, research, market access, funding, and financial inclusion. The roundtable on December 6 will feature Union ministers Dharmendra Pradhan and Rajeev Chandrasekhar, along with Gujarat Chief Minister Bhupendra Patel, to enhance the startup environment.

H D Kumaraswamy tells automakers to follow PM E-DRIVE norms

Money Control

Money Control · 10m ago

H D Kumaraswamy tells automakers to follow PM E-DRIVE norms

Union Minister H.D. Kumaraswamy has urged automakers to adhere to the guidelines of the new PM E-DRIVE scheme, which provides incentives for electric vehicle production. This comes after controversy surrounding the FAME-II scheme, where some companies were accused of violating regulations to receive fiscal incentives. The government recently launched the PM E-DRIVE scheme with an outlay of Rs 10,900 crore to accelerate EV adoption and develop the EV manufacturing ecosystem in India. The scheme will be implemented from October 2024 to March 2026 and will replace the EMPS-2024 scheme.

Investors will remain positive post Budget on Indian fixed income assets

Money Control

Money Control · 11m ago

Investors will remain positive post Budget on Indian fixed income assets

The annual Union budget speech is closely watched by financial markets as it reveals the government's priorities and focus areas. This helps equity markets identify potential winners and losers, while bond markets focus on macro announcements such as the budget deficit target and government borrowing through bonds. Both fixed income and equity markets are expected to be impacted by the budget speech.

Amid Electrification Push, India Aims To Lead The World In Automobile: Nitin Gadkari

Inc42 · 11m ago

Amid Electrification Push, India Aims To Lead The World In Automobile: Nitin Gadkari

India aims to become the global leader in the automobile industry within the next five years. Nitin Gadkari, Union Minister, expressed this ambition while emphasizing collaboration with electric vehicle manufacturers. Gadkari also highlighted the significant potential for electric two-wheeler exports from India, mentioning that half of the motorcycles produced in the country are already being exported. This statement follows the recent approval of the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme,' which has a budget of INR 10,900 crore.

Union Budget 2024 Live Updates: Will FM Sitharaman's 7th Budget address the decline in affordable housing?

Money Control

Money Control · 1y ago

Union Budget 2024 Live Updates: Will FM Sitharaman's 7th Budget address the decline in affordable housing?

Finance Minister Nirmala Sitharaman will present the Union Budget 2024 in Parliament on July 23. The budget will address the needs of various stakeholders, including taxpayers, investors, industries, farmers, women, and major sectors like FMCG, real estate, and technology. Moneycontrol.com will provide live coverage, offering updates and expert insights on what different sectors are expecting from the budget. Topics such as tax relief, economic growth, rural development, and women's empowerment will be covered, shaping India's future economy. Stay tuned for real-time information and analysis.

Budget 2024: Deep Tech Sector Seeks Policy Support, Ethical AI Guidelines

OutlookIndia

OutlookIndia · 9m ago

Budget 2024: Deep Tech Sector Seeks Policy Support, Ethical AI Guidelines

The upcoming Union Budget in India, to be presented by Finance Minister Nirmala Sitharaman, is highly anticipated as it will be the first budget after the general elections. The deep-tech sector received a boost in the previous interim budget, with a significant investment announced for sunrise technology. The Ministry of Commerce and Industry is also considering specialized policies to foster innovation in deep tech startups. The National Deep Tech Startup Policy is in its final stage of consultation. Expectations are high for measures to support AI development and address the need for ethical guidelines and reskilling initiatives in this budget.

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