Abolition of angel tax to benefit startups: T-Hub CEO

Reacting to the Union Budget by Union Finance Minister Nirmala Sitharaman, T-Hub CEO Mahankali Srinivas Rao highlighted the abolition of the angel tax for all classes of investors, seeing it as a crucial boost for startups and a step towards making India a global innovation hub. He stated that the budget marks a significant step for the Indian startup ecosystem, with initiatives that will undeniably create innovation and growth.
IKEA India CFO Murali Iyer appreciated the budget’s support for MSMEs and women, citing enhanced access to finance and infrastructure. He also noted the government’s forward-thinking approach with schemes for youth internships and Digital Public Infrastructure, along with investments in infrastructure and tax relief for salaried employees is a good move.
CEO of Marut Drones, Prem Kumar Vislawath, emphasised the Rs 1.52 lakh crore allocation for agriculture, focusing on climate-resistant and high-yield crops is a good move.
Prem Kumar Vislawath welcomed the exemption of lithium imports from customs, supporting domestic drone manufacturing.
Freyr Energy Co-founder Saurabh Marda said the budget’s ambitious renewable energy goals, including 500 GW of renewable power by 2030 and Rs 70,000 crore in solar subsidies for homes is a very good move.
Regency Ceramics Managing Director Satyendra Prasad Narala highlighted the Rs 10 lakh crore investment in urban housing under PMAY Urban 2.0, which will drive demand for construction materials and stimulate related industries is a good initiative by the Finance Ministry. He also noted the importance of supporting MSMEs with credit guarantee schemes and support for E-commerce export hubs.