Chandigarh, July 4, 2019: According to K S Bhatia, Co Founder of Pumpkart, India needs startup cities to create jobs, and so wants the the Union Budget to focus on growth of Start Ups.
Bhatia said , "Attention has to be more on Startups as besides creating more job opportunities, startups are also focused on digitalization. Need of the hour is to strengthen Startup businesses thus it is important for the budget to pay attention to more & more cities with start-up ecosystems."
Adds Bhatia, "Currently most startups are operating in Bengaluru due to the environment & culture which is missing at other places. Though few more cities like Gurgaon, Pune, Hyderabad have started focusing on startups but still the count is very low and the pace is slow. In order to have more startups, it is important to have at-least 10-12 Start-up Cities across the country which can be done by providing the right environment, resources, infrastructure, support services, government policies etc to start ups. This is important as more jobs will get created across the country and will not be limited to few cities like today."
"As the government is also trying to make the payments' mechanism in digital mode, recently they have permitted SMEs to pay 5% income tax if all their transactions are done digitally, if not done digitally, the income tax is 8 %. As government is keen to to promote digitalization, thus it is even more important to hand hold startups." Sums Up Bhatia.