What Startups and SMEs want from Budget 2020: Call for Action

"Thanks to all of you who shared their concerns in regards to doing business as a Startup or SME. Below, please find the link to the ask of the Startups/SMEs submitted to Finance Minister via LocalCircles.

You are welcome to share the link below with all your social media contacts, industry colleagues as well as other channels.

If you have additional inputs, please share them as well!

What startups and SMEs want from Budget 2020 more  

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Startups need collateral free loan with subsidies in E.B , GST ,ESI ,PF for atleast 3 years depending upon the employment potential they generate with technical support and guidance from a special task force appropriate for that particular industry. A single window approach for all sectors to prevent corruption is also mandatory. more  
Unfortunately, startups try to expand too fast without creating a firm foundation within a small region or area. If scaling up wisely, there is no need for sops from the govenment more  
The most important reform expected would be to cut Income tax drastically. No tax for 10 Lakh annual income or more. For income above 10 Lakh just one or two slab of low income tax, like 10% and 20%. No surcharge, and no cess.

High expectation that GST tax must be greatly simplified and drastically reduced. Just two low levels of GST tax. Petrol and Diesel should be under GST. All goods and services must be under GST. In addition, Excise duty to be reduced on Automobiles and consumer goods.

There is highest expectation that FM and PM Modi would generate mass employment for the youth of India. All the youth in India must be profitably employed and fully involved in nation building. Start up India must provide capital and facilities for the youth to become entrepreneur.

There is also highest expectation that The farmer salary must be doubled, and other incentives to motivate the farmers. Everything possible to stop farmer suicide. more  
Wants are unlimited, but government should be considerate towards SMEs, which is usefull for the economy of the country. more  
All districts should be installed with sufficient Nos. of machine for processing of end product from agricultural items. Nos. of machine are to vary as per the size of Districts and produced agricultural items. This will definitely increase job opportunity and farmers income. more  
District Development Councils are Must with various Wings more  
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