Budget 2019 Thrusts On Releasing India’s Entrepreneurial Spirit

The Logical Indian Crew India

July 5th, 2019 / 5:19 PM

Startups Entrepreneurship Union Budget

Image Credit: Vision, Bizztor

In a major boost to thousands of startups in India, India’s first woman finance minister, Nirmala Sitharaman announced a host of incentives to “release the entrepreneurial spirit” in the Union Budget 2019. In her two and a half hour presentation, she made a host of announcement for India’s entrepreneurs and start-ups.

Budget 2019 For Startups & Entrepreneurship

Sitharaman announced that a new TV programme exclusively for startups under Doordarshan bouquet of channels. This program would provide a matchmaking platform between venture capitalists and emerging startups. Sitharaman added that the TV programs will be designed and executed by startups themselves.

In a boost to entrepreneurship among women and marginalised segment of the society, the ‘Stand up India’ scheme which was launched in 2016, will now be extended during the entire between 2020-2025, said the Finance Minister.

In her speech, Nirmala Sitharaman said, “To further encourage women entrepreneurship, Women Self Help Group Interest Subvention Programme to be expanded to all districts in India.”

The government will assist in setting-up of around 80 ‘livelihood business incubators’ and 20 tech business incubators in FY19-20. This, in turn, would help the creation of 75,000 skilled entrepreneurs in the agricultural industry sectors, said Sitharaman.

One of the major announcements was that multiple labour laws will now be streamlined to a set of four labour codes. This is being done to standardise the registration, filing returns and reducing disputes, said Sitharaman.

Sitharaman also proposed a reduction of GST and Income Tax rates applicable for electric vehicle makers and owners respectively. The announcement will directly affect the start-up ecosystem.

The Finance Minister in her speech said that a mechanism is being put into place for e-verification. She also said that startups will not be subjected to any kind of scrutiny with respect to sharing value premium.

Also Read: Economic Survey Predicts 7% Growth In 2019-20


Written by : Shraddha Goled

Edited by : Shweta Kothari

Related Stories

India Budget

Budget 2019: 1,25,000 Km Of Road To Be Upgraded At Estimated Cost Of Rs 80,250 Crore Over Next 5 Years

BJP Budget Pension Scheme

Budget 2019 – Rs 3,000 Pension For Informal Workers Who Earn Upto Rs 15,000 Per Month; Know About It

Budget 2019 BJP Interim

Budget 2019: Key Announcements Made In BJP’s Interim Budget

Armed With Books & Spirit Of Service, This Ex-Army Man Is Empowering An Entire Village


For Electricians, Diwali Is Little Lights And Loads Of Hard Work, Its Time To Salute Their Spirit

Swapna Barman

12 Toes, Bandaged Jaw, And Indomitable Spirit – Swapna Barman Scripts History

Latest on The Logical Indian


Southern Railway To Cancel Housekeeping Services In 86 Long-Distance Trains Amid Cash Crunch


‘This Case Has Shocked Court’s Conscience’: Madras HC After Quashing False Case Of Daughter’s Rape By Her Father


[Video] Upper Caste Deny Dead To Be Carried Through Their Land, Dalits Airdrop The Body To Crematorium


How Depression & Other Mental Illnesses Consumed Characters Like Lady Macbeth, Snape & Hannah Baker


[Watch] New Zealand Speaker Feeds Milk To Lawmaker’s Baby During Debate


Sky-High Security Deposit To ‘Bachelors Not Allowed’ – Renting Flats In Bengaluru Often A Nightmare For Working Youth


Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.