Budget 2021 Gives Significant Support to Startups: Seema Prem

MUMBAI:
The budget this year has given a significant support to startup ecosystem that will help turbocharge their growth, says Seema Prem, CEO and Co – Founder, FIA Global.

The concept of OPCs with an option to convert into any other type of company at any time, reducing residency limit for an Indian citizen to set up an OPC from 182 days to 120 days, and allow also non-resident Indians to incorporate OPCs in India will certainly boost innovation. Collateral free loans and fund of funds for MSMEs will stimulate growth and provide solace to MSMEs hit by the pandemic.

The portability of One nation, one ration card will be a boon for migrant workers and speedy implementation will ensure that migrants can move across boundaries without worrying about access to ration. The additional allocation to MNREGS will provide substantial relief to workers whose livelihood has been impacted by the pandemic.