Some inter ministerial board or some expert IIT IIM committee (who has never run a startup) will approve a startup as innovative and fit for tax exemption.
I think the startups are better off moving out of India rather than deal with such an uncertain business climate. This Govt was going to be about helping business startup thrive. Seems like either its not the focus any more or the bureaucrats have taken over and are complicating things.
Whatever it is, not a good time to be startup entrepreneur or investor in India. Sorry folks. more
In India, 99% of newly Companies are started by existing Businessmen who want to enjoy these Tax Breaks & Incentives !!!!
Anyways, if one is a genuine innovative Startup, it has to show all Records & Finances to any Angel Fund they want Funding from .. so why worry about sharing the same with an Inter-Ministerial Board with some experts from IITs & IIMs ????
Let's forget Rajan & his ilk who have an axe to grind with the present Dispensation and in all likelihood become a Politician very soon .... more
We already loose our best talent especially to the West. If the government does not take drastic and quick action to correct this situation, we will continue to remain a third world country ... more
We cannot remove "cheap labour", out of the ROI equation. I have to wonder, we must be cheap, cause we are "inefficient", lower "productivity"?
A poorly managed, inefficient, government, affects us all and makes us all cheap. Cheap enough to provide great lives for people around the world, and ourselves live in squalor! more