Quote by Shreya Gupta, CEO & Founding Partner at Four Founders PR, an Advertising & Marketing Firm
"The government has implemented a variety of start-up-friendly policies over the years, and they have all proven to be successful. Currently, India has the third-largest startup ecosystem in the world and is second among middle-income nations in terms of innovation and quality. Finance Minister Nirmala Sitharaman recommended prolonging the period of incorporation for income tax benefits to qualifying start-ups by one more year until March 31, 2024, citing the value of entrepreneurship for the nation's economic development.
Previously, tax advantages were extended to newly incorporated start-ups through March 2023. She also suggested increasing the period of time that start-ups can carry over losses from changes in shareholding from the current seven years to ten. I believe overall the Finance Minister has done an excellent job in striking a fine balance in being fiscally prudent and growth supportive. Hence, I am looking forward to making the best use of new technological and advantageous opportunities designated by the Union Budget 2023-2024", says Shreya Gupta, CEO & Founding Partner at Four Founder PR
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