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News

India’s tech companies have a big talent problem

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Minutes Show India Will Go Slow on Exiting Easy Money Policy

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Amplify e-commerce and help all MSMEs reach markets online

Read More...

A 2022 vision: 5 lessons from 2021 coming into focus

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Investors decode impact of Budget 2022 on startup ecosystem

Read More...

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Read More...

How ‘Shark Tank India’ Has Given A Boost To Women Entrepreneurs

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Media

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Watch how pandemic has changed communication strategy for MSME companies

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In Conversation with Nimesh Shah Xebra Business Financial Suite

Read More...

Why every founder must do business financial analysis during this lockdown

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Product

Decode cash flow statement to boost your company’s growth

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Step by step guide to kick-start your small business

Read More...

How can you maintain accounting accuracy for your small business?

Read More...

Onboarding Simplified for MSMEs

Read More...

How & Why Saas tools can help your small business?

Read More...

Should SMEs in India buy Saas applications and other online tools to become efficient and effective

Read More...

Xebra makes payroll a breeze!

Read More...

How does an invoicing software work?

Read More...

What are the basic accounting disciplines that small companies and start-ups should follow?

Read More...

SaaS application that streamlines your accounting, invoicing, and payroll needs of your business.

Read More...

Do biz-finance software’s contribute to start-ups in terms of value creation, relationships, counsel, and influence

Read More...

Accountant Vs. Bookkeeper- What’s the difference?

Read More...

Will accountants be replaced by computers in the coming years?

Read More...

Is an online business and finance software the right move for your small business?

Read More...

Should small business outsource their bookkeeping requirement or carry it out in-house?

Read More...

What are the accounting alternatives to tally for a small business?

Read More...

All You Need to know about Banking Terms

Read More...

Everything you wanted to know about Tax Deducted at Source TDS

Read More...

5 Ways Small Business Are Adopting Cloud Software

Read More...

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Read More...

The 10 features in an ideal Online Invoicing Software

Read More...

Video

Eliminate the employee onboarding hassle with Xebra’s automation

Read More...

Xebra’s Vendor Portal that streamlines payments

Read More...

Improve your cash flow with Xebra’s dedicated client portal

Read More...

Xebra’s smart alerts notify you when expenses can cross budgeted limit

Read More...

Xebra helps you track your revenue targets that you have set client-wise or product/service wise!

Read More...

Eliminate the hassle of manually creating monthly recurring expenses forever!

Read More...

Eliminate the hassle of manually creating monthly recurring invoices forever!

Read More...

Disburse monthly asset purchase payments in less than a minute!

Read More...

Disburse monthly company purchases in less than a minute!

Read More...

Increase your cash-flow and profitability with Xebra!

Read More...

Multiple GST no’s delayed your tax calculation and accounting entries?

Read More...

Disburse employee monthly salaries in less than a minute!

Read More...

Disburse your monthly Company Expenses in under a minute!

Read More...

Ways to Improve your cash flow and collect money faster from your clients

Read More...

Budget 2022: What is in it for startups?

The Union Budget for India for the financial year 2022-23 has been unveiled while the country remains in an extraordinary situation. The economy is still recovering from the setbacks caused due to the pandemic and the lockdowns and is finding its way out of the most recent troubles from the coronavirus crisis. In such times, the anticipation of a visionary budget to boost progress and resilience has been obvious. As Finance Minister Nirmala Sitharaman outlined the
specificities of the budget today with insistence on the need to boost infrastructure, let us look at how well the declarations bode for the economy and the startup ecosystem. 

The focus areas of the budget were announced as inclusive development, productivity enhancement, sunrise opportunities, energy transition, climate action, financing of investments, and a bolstering and integration of infrastructure through the PM Gati Shakti master plan which intends to bring sixteen ministries including Railways and Roadways together for coordinated planning and implementation of infrastructural development. Taxation did not see many alterations, with a tax of 30 percent on digital assets and cryptocurrency, alongside tax and surcharge reductions for cooperative societies.

The expectations from the startup world were many, ranging from GST exemptions, easy access to working capital, policy support for better capital participation, incentives in form of subsidies and interest-free loans for small businesses in small towns, and reducing disparity in capital gains taxes for listed and unlisted firms. The Budget has delivered on some of these fronts certainly. While noting that "Startups have emerged as a growth driver for the economy", the Finance Minister announced an additional year of tax relief for startups. Furthermore, the Minister proposed to extend the capital gains tax exemption for investments in start-ups by one year, while declaring that startups serving agricultural and rural sectors will be served with a
fund mobilized via NABARD.

Simultaneously, the minister stridently made the case for the expansion of digital payments and fintech. "Taking forward this agenda, and to mark 75 years of our independence, it is proposed to set up 75 Digital Banking Units (DBUs) in 75 districts of the country by scheduled commercial banks," she proclaimed, alongside noting that the financial support for digital payment ecosystem announced in the previous Budget would continue in 2022-23. "This will encourage further adoption of digital payments. There will also be a focus to promote the use of payment platforms that are economical and user friendly," the Minister remarked.

While these announcements seem optimistic, it has to be discerned that the implementation of infrastructural projects will be key. As Pranay Bhatia, partner and leader of Tax and Regulatory Services, BDO India opines in a statement to The Economic Times, "Thrust on financial inclusion initiatives will help banking and NBFC's only when the infrastructure for the same is made robust. Digital banking and fintech focus, if coupled with measures for ease of doing
business should help give the much-needed thrust to already growing start-ups in the Fintech sector." There could also have been more direct measures to increase innovation endeavors and a greater focus on startups in smaller locations. All said and done, the Budget this year shows some degrees of promise but could have offered several new vistas of opportunities to the startup ecosystem. The rhetoric of strengthening startups, them being the drivers of a prosperous future, has not amounted to much financially in the budget and that remains a core area to be remedied.

Credits: The Hans India

To Read: https://bit.ly/BvNews

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