Finance minister Arun Jaitley presented the union budget of 2018 in the parliament, which contains some major provisions for rural people and attracted mixed reactions from various sections of the society.
While there are some positive announcements but the kitty of start-up community is not so happy, with the outcome of the budget, but some initiatives are announced, which are going to be the growth propeller.
Under the Angel Tax clause, introduced by the Income Tax Act, 2012, has levied 30 percent on investors. There was an expectation that the government could scrap off this Angel tax for Start-up founders and Venture Capital (VC) s.
Although there is no such relief provided in the budget; experts are of opinion that this will not going to affect the start-up ecosystem and doesn’t dissuade potential investors from making the investment in start-up initiatives.