Budget 2017 views from Abdul G Sait, Co-founder & MD at Passion Connect

Author(s): 

Abdul G Sait, Co-founder & MD at Passion Connect.

"The overall announcements by theFinance Minister focuses holistic economic growth and digitalization in the country. As India strengthens its position on the global map, the need for skilled youth is crucial. Launch of a Rs 4,000 crore scheme, called Sankalp, for skill development and Emphasis on extending market relevant training for the youth and setting up 100 India International Skills Centres (IISC) across the country, are extremely positive moves.

For a startup like us, the budget does include certain good news. Carry forward of losses, tax break upto 7 years,Minimum Alternative Tax (MAT) changed from 5 to 15 years and Income tax benefit for MSME’s is a big relief. It is important for us to stay agile and upbeat with technological advancements and this budget is making it possible."

Date: 
Wednesday, February 1, 2017