The Union Budget 2019 Analysis

The Union Budget for 2019 was released recently. It turned out to be explicitly welfarist for entrepreneurs. Some of the incentives include: incentivising electric vehicles to motivate EV start-ups, aiding foreign direct investment regulations into multiple start-up divisions, introducing significant upgradations to electronic payment services and a TV show designed to promote entrepreneurship. Mrs.Nirmala Sitharaman, the first woman finance minister of India, said that the TV Show would be aired on Doordarshan and would be an attempt to ignite discussions between successful entrepreneurs and developing startups.Additionally, the minister has proposed 100% FDI in insurance intermediaries, a group where the highest number of digital businesses reside. Besides this development, the government has allowed 100% FDI in single brand retail. This will be advantageous for start-ups like Urban Ladder, Pepperfry, HomeLane and Livspace.Other measures to organise labour laws, education and rental house will reinvigorate entrepreneurship.

The finance minister said that labour laws would be streamlined into four labour laws. This would thus make the process of registration and filing of returns efficient. The ‘Start-up India’ scheme, launched in 2016,to promote entrepreneurship among women and isolated parts of the society, is anticipated to extend till 2025.Sitharaman also stated that to legitimise female entrepreneurship , Women SHG Interest Subvention Programme would to stretched to all the districts in India. There is an expected purge in GST and Income Tax for electric vehicle manufacturers and its owners.”The valuation of Category II AIF funds (Real estate funds, private equity funds (PE funds), and funds for distressed assets are registered as Category II alternate investment funds, or AIFs) will be out of I-T scrutiny”, the finance minster proposed in her Budget Speech

Comments

Past makes present: Elon Musk 's anti union tweet

Who would have thought that a tweet made in 2018 will cause hassle in someone’s life in 2021. We are talking about none other than Mr. Elon Musk, CEO of Tesla, Inc. He needs no introduction but more than him, his tweets are famous. Elon Musk has been seen tweeting sharp and blunt statements very often but this time he faced serious repercussions as well. Swami Vivekananda rightly said that the present is determined by past actions. It all started in 2018 when Elon musk is his tweet, wrote: “Nothing stopping Tesla team at our car plant from voting union. Could do so tmrw if they wanted. But why pay union dues & give up stock options for nothing? Our safety record is 2X better than when plant was UAW & everybody already gets healthcare.” This tweet came in the limelight in 2021 when National Labor Relations Board found it oppressive and threatening. As per NLRB the tweet by Mr. Elon Musk was unlawfully threatening the employees with the loss of stock options if they decided ...

Russia’s Melting Snow May Cost the World Economy 2 Billion Dollars

The impact of climate change on a vast permafrost area of Russia has become a principal apprehension for the country. This is primarily due to thawing of once permanently frozen ground which covers more than half of Russia. The liquefication of snow is putting buildings, pipelines and other infrastructure in peril. This problem needs to be addressed imperatively because the scale of damage will escalate every year. Rising temperatures are the epicentre of anxiety for mining, oil and gas companies. The permafrost area accounts for 15% of Russia’s oil and 80% of its gas operations. It is also home to miners including MMC Norilsk Nickel PJSC, the biggest refined nickel and palladium producer. Multiple new craters have been found in the gas-rich Yamal region, which is a risk to pipelines. By 2050, global warming may jeopardise about a fifth of structures and infrastructure across the permafrost area, costing about $84 billion. Residential real estate, worth $53 billion, might be als...

Changing Environment For Local Business In Sri Lanka; Government Initiates The Revolution

Local industries and businesses are the backbone of the economy of any country. Additionally, Sri Lankan Government defines a local company as one with a minimum ownership of 51% of a Sri Lankan. To help these companies grow, the Sri Lankan Finance Ministry has proclaimed a circular enlisting the priorities to the local companies. Moreover, this move from the government may bring some salient alterations in the condition of the local manufacturers. The government has also come with up steps that will augment the local industries across the different domains. These domains include IT sector, construction, etc. The circular, as issued by the government includes relevant documentation regarding sourcing of resources and products. Additionally, sources point towards the fact that the government is hoping to extend support to the domestic sector and help them grow. Besides, the major focus is on the three sectors- IT software and hardware, construction and furniture and allied products. Pos...

Entrepreneur Digest

Search This Blog