Union Budget 2021: Highlights on big boost for the startups

The Union Budget of the fiscal year 2021-22 by Finance Minister Nirmala Sitharaman comes as an economic vaccine for the pandemic-battered economy and to steer India with the much-needed stimulus to boost demand and consumer confidence

Sitharaman declares the period to be a big boost for startups. The plan follows thus, incorporation of one-person companies to incentivize innovation in startups at the same time, reducing the residency limit for an Indian citizen to set up a one-person company from 182 to 120 days.

The Economic Survey 2020-21 marked an ambitious target of 11% growth in the Indian economy, Sitharaman is expected to announce measures that boost consumer demand, employment potential as well as investments into India.

 

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