Indian Entrepreneurs’ take on the Start Up Budget 2014

With the declaration of the Union Budget 2014, there are many hopes and predictions soaring in the air. Like every other industry, even the entrepreneurial sect of the nation had been awaiting this budget announcement and it looks like there’s excitement in that camp, with the allotment of 10000 cr to the start ups.

Let’s take a look on the views of some of the entrepreneurs on this year’s start up budget, and the plans that come ahead of it.

Vineet: External Relations- Oxfordentrepreneurs 

We can expect the day in India, when all the training & placement cells in colleges will be replaced by entrepreneurship development cells. It is indeed a splendid initiative by the government to boost the startup ecosystem. http://bit.ly/oxfordentrepreneurs

Kanika Sood: Founder/Director- Needful Initiatives for Environment Development (NIEV) Foundation
I think like every year’s budget, the focus is on encouraging entrepreneurship. Yet, recognizing rural entrepreneurship can encourage generating sustainable and alternative employment resources in rural India. Maybe government should also consider recognizing social and women entrepreneurs in future or have some tax exemptions/ funds to encourage the same. http://bit.ly/needfulinitiativesforenvironment

Shivam Mishra: Founder & CEO-CrazzyVentures
Overall it’s a Startup and Entrepreneur friendly Budget, which if implemented as said; grants easy access to funds, easier exit, attracts foreign investment firms, more opportunities especially in manufacturing and E Commerce, a 500cr fund for Increasing Internet Connectivity in villages will definitely increase the online market. http://bit.ly/crazzyventures

Shubham Sharma: Founder- PitchCross
Rural Internet Connectivity will also open up more opportunity to reach out to the new and diverse customers which are yet to been explored. The budgetary provisions will boost the Indian startup ecosystem by granting easy access to capital. It will generate interest in International VCs. Helping technology startups to reach out new and more consumers.  http://bit.ly/Pitchcross

Abhishek Pratap Singh: CEO/Founder- Digital Abhiyan Private Ltd

Rs 10,000 crore venture capital fund for startups is good and positive move but it lacks clarity in terms of deployment, implementation/execution and the time line. The budget should have simplified the tax rules, improve tax compliance and lower tax litigation for start ups and also given some incentives to start ups. It is encouraging that this government is talking so much about entrepreneurship and has included startups and entrepreneurship and thinking in its national budget. I am happy to see that the government is focused and thinking about Entrepreneurial Ecosystem. http://bit.ly/digitalabhiyan

Prateek Panda: Founder & Managing Editor- TheTechPanda
India needs more entrepreneurs and the government clearly recognizes that. What's more important now is to back it up with action, especially providing more clarity and direction for effective utilization of the 10,000 crore venture fund. http://bit.ly/theTechPanda

Asish Kumar Das: Founder- The Startup Journal
A quite realistic budget with long term capability, allowing foreign investments and removing the financial barrier for the companies by providing Rs. 10,000 crore startup funds will work as a catalyst for development. The finance minister paid attention towards entrepreneurship which shows that the government is taking it as a serious issue which can lessen the unemployment. http://bit.ly/thestartupjournal

Akhilesh Pandya:  CEO/ Founder- GenieOnCall

Overall I am happy with what has been announced by FM in Budget2014 except couple of things that I wished could have been announced as well. There should have been a provision of creating institutions for Entrepreneur development. That would have saved lot of Entrepreneurs who are being rejected just because they do not know how to approach Venture Capitalists. If we have development cell for entrepreneurs then 90% of entrepreneurs wouldn't fail to sustain/ build their concept, which is the present scenario. http://bit.ly/genieoncall

We hope that the concerns raised by these entrepreneurs reach the right sources, in order to escalate the right execution of the budget 2014.

Source: Amit Grover (Founder, Nurture Talent)
http://www.nurturetalent.com/