Union Budget 2022:23: Benefits Start-Ups Received From Budget

Starts-ups did receive some benefits from the Union Budget 2022:23. Experts and industry observers believe some of the steps were welcome. Says Siddharth Maurya, Resource Specialist, Fund Management: "For start-ups the tax concession period has been extended by one more year, which in my opinion is a very positive move. Likewise, a 15% tax has been decided for the newly incorporated manufacturing unit. The period of incorporation has been increased by one more year to 31-3-2024. This will further boost manufacturing activities," he says.

According to Virendra Ranawat, Co-Founder, WoodenStreet, with Union Budget 2022-23, a lot of expectations have been met.

"Healthcare and infrastructure were the main highlights of the budget 2022 and immense investment has been allocated for the expansion of roadways and logistics networks. Just like it was expected, the youth and startups were given keen importance in the budget as well. The ECLGS credit scheme guarantee cover has been expanded by Rs 50,000 crore, which will provide collateral-free loans to stressed-out MSMEs.

The budget also announced "one station one product" programme will facilitate local supply chains, this will be a huge improvement impact on small farmers and MSMEs. The budget also revealed about 100 PM Shakti Cargo terminals, which will develop in the next three years. Overall, this year's budget will bring positive change for the MSMEs and other small industries," he says.