BUDGET-2023: Pre-Budget Views by Gautam Sinha, CEO and Founder of CBREX


Budget 2023

“The capital gain tax ruling concerning the sale of unlisted securities introduced in budget 2021 disincentivizes private investments, which in turn, adversely impacts the growth of start-ups. Under the current regime, gains on listed shares are considered long-term if held for 12 months and taxed at 11.96% whereas those on unlisted securities are considered long-term if held for 24 months and taxed at 23.92%. These factors are heavily stacked against the start-up ecosystem. Start-ups are considered innovation and job-creating engines and should be nurtured in early-stage. They rely heavily on private investments to get off the ground and sustain initial loss-making periods. Parity on these two counts will provide a level playing field for private investors. At the same time, it ensures that start-ups continue to raise capital seamlessly, and helps them stay focused on building next-gen products and solutions.”

Talent outlook for 2023

“Big tech companies in the USA have been rationalizing their bloated headcount in the recent past along expected lines. The uncertain global economic situation and the looming US inflation have only exacerbated the situation which will undoubtedly impact hiring for Indian companies that are US-dependent. However, we see this as a temporary phenomenon and things should start easing out in the second half of 2023. Indian companies that are more “India centric” won’t experience a hiring shock in 2023 and it will be hiring as usual for them.”

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