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Leaders of start up companies and tourism sector hail Budget and thank Finance Minister

New Delhi: Budget 2020-21 has earned the praise of start ups and leaders in the tourism sector and said that the decisions in the Budget will give a boost to tourism industry, connectivity, job creation, and start-ups.

CEO of OYO, India South Asia said, “It is heartening to see a budget that focuses on improving standards of living as well as economic development. A grant of Rs. 2,500 crore for tourism promotion and the development of five iconic archaeological sites and museums in the country are bright indicators of the renewed focus of the government on the travel and tourism industry.”

He added that it is heartening that the government acknowledges and understands the role of entrepreneurs in both capital and job creation in the country. He added that the government’s initiatives to create opportunities for start ups will boost entrepreneurship in the country.

Snapdeal Co-founder, Kunal Bahl thanked the Finance Minister for accepting the start up sector’s request for tax reforms in Employ Stock Option Plans (ESOP). In addition the Budget’s proposal for higher time and turnover limits for carry forward of losses for start ups will help the start ups in the formative years.

He also added that the measures to improve access to finance for Micro, Small, and Medium Enterprises (MSME) sector, reduced taxation for middle incomers were welcome steps.

Bahl said that the steps to boost physical infrastructure, expanding digital connectivity and growing use of technology in government functioning will boost the Indian economy in the long run.

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