India has celebrated National Startup Day a few days ago on 16 January 2023. Indian startups are building a new India. Currently, India is the third largest startup ecosystem in the world. New entrepreneurs are innovating. And also offering solutions to deal with the challenges at the grassroots level in the country. Startups are not only bringing innovation, but are also emerging as major job creators in the current decade.
Many policies can be announced
On February 1, Finance Minister Nirmala Sitharaman is going to present the next budget of the Modi government. Strong recovery has been observed after Corona. In such a situation, the Finance Minister can announce policies to support startups. With this, the Finance Minister can present a further roadmap for growth. The world is standing on the verge of a possible recession. In such a situation, this budget becomes special.
Indian startups and investors are now focusing on profits. Earlier his focus was on growth at any cost. Now they are making some changes, so that their position can be strengthened. In such a situation, it becomes necessary that the government introduces new policies and low-risk and low-cost funding in the budget, so that the startup ecosystem can be supported. And India emerged as an innovation-based economy. Finance Minister Nirmala Sitharaman can announce funding avenue or support to promote Indian startups.
Startups will not find it difficult to raise money
The government may notify Innovation Bonds or Early Stage Innovation Bonds or Impact Investment Bonds to enhance innovation and participation in the startup ecosystem. At present, there are NHAI and REC bonds, which have tax-free status.
With this, the government can provide low cost funding, so that the projects get support in the early stages and they do not face any difficulty in raising capital. In particular, traditional bank funding does not require the required assets or cash flow. Apart from this, it will reduce the burden on the government treasury for funding and startup incubators and projects will also get support.
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