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A Boost for Angel Investors, Start-ups, and Real Estate says Laxman Jaiswal on the Union Budget 2024

by TRANS WORLD FEATURES | @twfindia 25 Jul 2024, 03:21 am

Eastern India’s leading Infra and e-commerce start up founder, Laxman Jaiswal said in a statement that the Union Budget of India for the fiscal year 2024 has been widely anticipated for its potential impact on various sectors, including angel investors, start-ups, and real estate.

This year's budget is designed to foster economic growth, innovation, and sustainable development, reflecting the government's commitment to transforming India into a global economic powerhouse.

One of the standout features of the 2024 budget is the suite of incentives aimed at angel investors and start-ups. Tax Relief for Angel Investors shall attract more investments into the start-up ecosystem.

The Start-up tax holiday extension from the current three years to five years shall provide emerging businesses with additional time to stabilize their operations without the burden of tax liabilities, encouraging more entrepreneurs to enter the market.

The simplification of compliance shall ease the regulatory burden on start-ups, reducing the number of filings and providing a single-window clearance system will streamline operations and allow start-ups to focus more on innovation and growth.

Another feature of the Union Budget is increased funding for incubators and accelerators to support incubators and accelerators across the country.

Also he opined the proposal to create new job opportunities as well support for the SME sectors are equally noteworthy.

Jaiswal adds that infrastructure and skill development shall surely further bolster the start-up ecosystem, the budget has laid out plans for improving infrastructure and skill development:

Jaiswal gives thumbs up to the budget and says, as a startup founder of  gintaa-ecommerce, I feel that this budget shall greatly bolster the startup ecosystem.

Speaking on his other area of business interest ie; real estate, Laxman Jaiswal says, "The real estate sector, a significant contributor to India's GDP, has received a substantial boost in the 2024 budget. He highlights affordable housing push as well as infrastructure development.

"The budget emphasizes large-scale infrastructure projects, including the construction of new roads, highways, and urban transport systems. Improved infrastructure will enhance connectivity and spur real estate development in peripheral areas, leading to balanced urban growth."

"I feel that the reduction in stamp duty shall stimulate the real estate market as well as the Single-window clearance for real estate projects thereby reducing project approval times encouraging more investment in the sector."

Laxman Jaiswal concludes, "The Union Budget of India 2024 presents a comprehensive plan to drive growth and innovation across critical sectors. With these strategic initiatives, the budget sets the stage for a prosperous and sustainable future for India."

Laxman Jaiswal is the Chairman of Ascon Infra Ltd and Founder of the start up food delivery  e-commerce platform, gintaa.