Government should focus on encouraging entrepreneurial energy in the economy leading to more jobs and development in Budget- Unlimit
“The re-election of the Modi Government ensures steadiness of the government’s gripping vision for India to boost the economy and put the country in the forefront of the technology sector by 2030. We expect the government to announce a budget that will encourage the entrepreneurial energy in the economy leading to more jobs and development. Most start-ups have a variable source of income and need support from various government sources and investors to grow and become successful. They won’t have the bandwidth to manage multiple GST registrations. We’re hoping the forthcoming Union Budget will boost the start-up eco-system by abolishing the Angel Tax and introducing a single GST registration.
We look forward for the government to strengthen investments in the IoT sector, so that the benefits of IoT technology can reach the masses. The key to the success of the Digital India initiative lies in making the necessary reforms to the tax structures including GST, and driving domestic innovation coupled with fiscal incentive schemes. With a view to accelerate the adoption of IoT services and achieving the NDCP’s goal of 5 billion connected devices by 2022?, we strongly believe that the GST rates for digital products and services should be reduced from current rate of 18%. As the government aims to build one lakh digital villages in India in the next five years, it’s imperative that the services are affordable to the end customers, hence, companies working in digital sector should be given incentives.”
-Quote from Juergen Hase, CEO, Unlimit. Juergen is an industry veteran who has worked for over 25 years to develop, implement and execute new businesses in different global markets, Jürgen brings extensive leadership and industry knowledge. He has implemented all relevant IoT layers, starting from connectivity, to application up to analytic services, within 3 years which is a global benchmark in implementing IoT services as fast as possible.