“My Budget Expectations” - Sandeep Aggarwal, Founder of Droom and ShopClues

“We should be restricting rules, policies, and definition that restrict the natural growth of industry.” Here are the outspoken Aggarwal’s expectations from the upcoming Union Budget.

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When it comes to the current economic scenario at a micro economic level, the government should assist the growth of the startup industry by creating an autonomous business landscape for entrepreneurs. Entrepreneurism, by itself, is a very demanding career for an individual, and minimizing government intervention can help them to achieve success. In the coming years, internet can become a 3 trillion dollar industry as it was designed to be autonomous and free by nature. We should be restricting rules, policies, and definition that restrict the natural growth of industry.

Here are 5 major points of what we expect:

1. India must enhance various policies to ensure that capital is easily accessible to entrepreneurs. Having said that, government should not intervene when it comes to funds or bank loans. Rather, entrepreneurs should be provided easy access to seed funding, VC funding and angel funding.

2. Money shall be coming to India and should be easier to repatriate.

3. No capital gain taxations for any kind of startup sale or exit.

4. Make foreign listing for any Indian company straightforward rather than the company having to incorporate itself in every country individually.

5. Give R&D credit if someone is making innovative tech products.

India accounted for 35 percent of global GDP until 1615 AD, and currently only occupies 3.5 to 4 percent share. I strongly believe that startups and the digital economy have the potential to take India’s share up to 20 percent by 2025.

The focus therefore should be on helping startups and fuelling the industry with good policies - whether it is incentivizing investors, making favourable cost of capital laws, or having institutions teach entrepreneurship or even if it’s by celebrating failure.

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