8 big announcements for startups in Budget 2024

Budget 2024

In Budget 2024, FM Nirmala Sitharaman allocated a fund of Rs 1 lakh crore for India's tech-savvy youth.

He stressed the potential for innovation among the youth and highlighted the importance of connecting their talents with technology.

The corpus aims to provide long-term financing or refinancing with extended tenure and low to zero interest rates.

The startup's founder Sudeep Kulkarni lauded the move, saying it provides significant support for tech-driven ideas and promises a brighter future.

Sitharaman believes that this initiative will encourage the private sector to promote research and innovation in emerging sectors.

The FM acknowledged the imminent end of tax benefits for startups and investments made by sovereign wealth or pension funds.

The extension of tax benefits is reflected in Government's surrender promote favorable environment For startup, investment, etc. Progress of IESG units.

To ensure continuity, in line with the government's commitment to promote entrepreneurship, Sitharaman proposed to extend the expiry date to March 31, 2025.