After today’s budget, the government has clearly laid out the intent of moving along with the economy while promoting the same and also recognizing the pitfalls and challenges pulling the start-up and VC ecosystem down, both from a macro as well as a micro perspective. The government understands the propensity of stupendous growth in India’s start-up ecosystem while being particularly cognizant of the global meltdown and recessionary times. The government has tried hard to address the dual concern of access and relief for the ecosystem i.e. Amongst other benefits, steps to promote startups setting up the Fund of Funds for Startups (FFS) scheme, Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) and also the extension of passing on benefits of carry forward losses on change of shareholding from 7 to 10 years, are of critical significance and a welcoming breather for early stage/growth stage companies.
BUDGET 2023: Post Budget 2023 views by Mr Abishek Balendran, Investment Partner, Silverneedle Ventures
