Post-budget 2018 Reaction Mr. Ashok Vashist- Founder and CEO, Aaveg

The budget did seem to include digital in many sectors. The toll system on ‘pay as you use’ basis is a good idea. Further, as the government plans to implement special scheme to address air pollution in the city; startups can collaborate to fuel the procedure. Transportation and unplanned travel has not only increased wheels on roads but also are reason behind rising pollution in the cities. With cutting edge technology, a lot of companies that have been working in this space can help address the grave challenge.

The reduction in Corporate Tax from 30% to 25% for companies having turnover upto Rs. 250 crores as against the Earlier ceiling limit of Rs. 50 Crores – This is fantastic move for boosting small companies by reducing the corporate Tax burden by 5 % . This will help & motivate  our small companies to grow better. For a long time in our country, the micro-small and medium industries i.e. MSME have been paying tax at huge rates, even more than large industries. In this budget, the government has taken a courageous step and cut the tax rate of all MSME by 5 percent. That is, now they will have to pay 25 percent instead of 30 percent tax. Due to NPA in large industries, the micro-small and medium industries are feeling tense. The punishment for someone else’s crime should not be met by small entrepreneurs.

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