Tourism has entered into a great crisis due to the worldwide panic of the Corona Virus pandemic. Till this moment of time its duration and scope still unknown which is creating a great destruction in the economy of the most of the countries. This has also lead to the stock market crash continued for a week to all the giants of the sector in different countries. One of the point which comes in the mind of most of the people is the impact of the COVID-19 Corona Virus on world tourism. This is one of the unanswerable question for us, and the authorities’ forecasts are based on previous experiences with similar crises such as that of H1N1 and SARS and many other dreadful diseases. Let us discuss the impact of COVID-19 corona virus on the tourism industry of different countries.
Effect on Tourism Industry of different countries.
Effect on Tourism Industry of different countries.
Let us first check the contribution of tourism industry in the GDP of the top countries.
United States ($488 billion)
India ($230 billion)
China ($224 billion)
Germany ($130.8 billion)
United Kingdom ($103.7 billion)
France ($89.2 billion)
Italy ($76.3 billion)
Spain ($68.8 billion)
Brazil ($56.3 billion)
Most of the countries in this list are the one having the beat medical facilities in the world. They are having a huge GDP and this is all possible due to the big contribution of tourism industry in their country. There is a drastic effects on Tourism Industry due to COVID-19. We can calculate from this stats that many of the people will be going to refuse or going to reschedule their plan of vacations due to this pandemic in these countries, which are adversely affected.
China was the first country to suffer from this dreadful pandemic and so Chinaâs tourism industry will be most affected due to the virus. The Chinese tourism industry represents 11% of their GDP and even growing in the last few years, will be going to get worst affected even after many years of this pandemic.
In 2020, Italy is expected to see a decrease of roughly 28.5 million tourist arrivals due to the impact of (COVID-19) coronavirus pandemic on the country’s tourist sector the GDP of the whole country. Same situation will also be there in Spain for few, till this situation gets controlled by us. According to the estimate, some of the parts of Italy like the region of Veneto can record the highest drop with a decrease of roughly 4.61 million arrivals due to this pandemic. Similarly, Lombardy is expected to register a decrease of about 3.87 million arrivals in 2020 which can change the future of the whole country.
Effect on Tourism Industry and other businesses connected with it
Effect on Tourism Industry and other businesses connected with it.
There are many other businesses which are drastically effected by Tourism Industry due to COVID-19.The tourism industry is connected with many other businesses like Hotels, airlines, and cruise operators which are also going to suffer. The pandemic has outbreak during the Lunar New Year which is one of the busiest travel seasons in Asia- the largest continent and thus a bigger source of investment in tourism industry.
As a result of (COVID-19) coronavirus pandemic, it I predicted by most of the market leaders that the global travel and tourism market is going to see a loss of 75.2 million jobs worldwide in 2020 due to almost no business in this sector. The region that is supposed to see the biggest loss from COVID-19 is the Asia Pacific region which can see a lose of approximately 48.7 million jobs, while European countries is forecast to be the second hardest hit with a forecasted employment drop of 10.1 million due to this pandemic.
The COVID-19 has created such a big problem in the world that the people are not able to come outside from their houses. Either due to the govt. restrictions of lockdown or due to their own fear of corona virus, there is some or the other problem in the lives of the people. This pandemic has created such a worst situation that people are not even able to go on their work, even for earning a basic amount of livelihood. In such situation, the work from home has become the only and the ultimate choice for the people as well as for the companies and corporates which are not able to create a good business in this period of global lockdown. At this moment, it is visible in the market that many sectors are benefiting by work from home. Let us now analyse the complete report on work from home– effects on different sectors.
The Pros of Work From Home
Work from home means either no office or no big multi-storey office space. In other words, there will be no need of such a costly space having many other costly items and showpieces, which will be creating a good impression on your employees as well as on your clients. The company of different sectors are benifiting by work from home in a way that, they wonât have to pay for office space. If this is taken care by the companies then, they can save a big amount of renting cost. This saving can be used on the company itself or can be gives as an appraisal or a bonus to the employees. Not only this, the company will be having less burden on itself.
The company working in online sectors are benifiting by work from home donât have to pay for the small expenses of the employees. This includes pay for office supplies and for office snacks. Such a amount of money can be reinvested in the company itself for its own betterment of the company.
For the employees, the work from home means the ability to work like a freelances which indicates; work with anyone in the world. Freelancing concept will become popular in this case and this will help in connecting top companies with the very best software developers from all around the world, as the employees will now work on their skills not on the packages of the companies.
The employees will be less likely to quit in the work from home situation as they will be going to pick only those projects, which suits their skill set. Not only this, the companies will be getting a contract employees which will be having a better skill set and can easily work on their requirements.
There will be no office politics, if there will be no offices. This will ultimately help the company to get the better output of the employees, if there is no grudges of the employees for the company or for the other employees. In this condition, the employee will be happy and will be having a free mind from all the bad thoughts for the companies or for their colleagues.
Sectors which are able to work in work from home
Online Teaching
Teaching Sector- Work from Home
The online teaching and training sector is highly benefited by the work from home initiative and is now on its peeks. Every school, college, training institute is going for the online education and is talking about shifting this education system online in-order to be on the safer side, if such situation comes in the future. Not only this many platforms which helps in learning a new skill is now working with their full potential to attract the customers to learn online. The major examples for this online learning are Byjuâs, Unacademy, Udemy, EDX and many more. One of the Indian start-up named UpGrad, is providing you the chance to complete your post-graduation without going to college, just by studying online. No matter where you are, you can take admission in any of the integrated college and complete your online post-graduation degree.
The IT industry was on its boom before this pandemic and is showing no effects on it due to this global problems. The companies in IT sector are highly benefit from work from homeand are not having any problem working in their offices or while working from their houses. This is the only industry will is not feeling any type of problems and this industry can change the whole working ecosystem of the companies and their employees as now, many big, fortune companies are thinking of shifting their ecosystem to this work from home ecosystem. This industry consist of many types of businesses which are not having any type of effect, they are e-commerce, where people are now trying to order online rather going outside for any type of purchase. Second is the video conferencing platform which have helped in work from home to all the employee of different companies.
Freelancing is an evergreen sector which was not taken into consideration by most of the big companies but now, the companies are thinking about this sector as a highly beneficial at the time of work from home as this can help a company in many ways. There will be no problem if a company hires a freelancer as now a company can hire according to the skills required for a single project. They can hire on a limited period contract basis. No other types of expenses will be there in this case. In all it will be a win-win situation for both the sides i.e. for the employees as well as for a company.
India has gone through a rapid digital transformation over the last few years. After coming of Jio into existence in the Indian ecosystem. This contribution in the Indian market has increased the use of smartphone and internet with a great pace and it has grown exponentially. Now, Jio has collaborated with a social media giant Facebook, making it the worldâs largest made by any technology company in the world. Let us read the key aspects of Jio-Facebook Partnership.
Highlights of Jio-Facebook Partnership
Jio-Facebook Partnership
The Facebook Inc. is the worldâs largest social media company. The company has announced that it has invested $5.7 billion for a 9.99% stake as a minority investor in Indiaâs Reliance Jio Platforms in the nationâs most valued firm, Reliance Industries which is the biggest telecom operator in the country with more than 370 million subscribers giving its services in all the sectors of telecom operations.
Jio was valued at $65.95 billion at the pre-money valuation period. This makes Facebook- the social giant, the largest minority shareholder in the Indian telecom network by bidding for nearly 10% of the stakes in Reliance Jio telecom subsidiary platform.
The Jio-Facebook Partnership will work in the direction of bringing together JioMart, which will be an e-commerce business retail platform which will be providing all types of facilities under a single platform using the technologies and data of both the companies. Some of the experts are also saying that, this can be the nationâs largest retail chain, with the integration of WhatsApp as this messaging platform is having a biggest market with more than 400 million users. WhatsApp is also the most popular smartphone app in India.
The Reliance Jio-Facebook Partnership wants to replicate the USP of Wechat in India by creating an all-in one, multi-utility platform named as âJioMartâ.
WeChat is a Chinese multi-purpose messaging, mobile payment app and social media platform developed by Tancent. It was first released in 2011, and gained so much popularity that it became one of the world’s largest standalone mobile apps in 2018, with over 1 billion monthly active users. Due to exponential increase in the popularity, WeChat has been described as China’s “app for everything” and a “super app” because of its multiple range of functions under a same console roof.
The JioMart platform will be having all the payment facility and E-commerce of Jio itself, who is having all its platform ready to use eg:- Ajio, JioMoney. The company is going to integrate WhatsApp facility for completing any type of purchasing with the help of WhatsApp payments option. All the other facilities which are not provided by them, will be provided with the integration of retailers of those special services. This specially include, the kirana-retailor, which will be helping them to complete their all-facility-single-platform-hub. So, in this way, this collaboration is going to replicate the model of WeChat in India.
Other Investment of Facebook in India
This is not the first time when Facebook has made any investment in India. From the past, it has been seen that the Facebook has made some investment in some of the other tech start-ups. Some of these startups consist of edutech and social commerce reseller platform.
The social commerce reseller platform, Meesho has been funded by Facebook with around $20-25 million. It is a platform where people act themselves as a seller by just listing it on their digital-social groups, in other words a drop-shipping business in your local group.
The edutech startup Byju’s has been funded by Facebook with around $50 million. This startup works on the interactive way of providing education of students from primary classes to all the competitive exams.
The edutech startup Unacademy has been funded by Facebook with around $110 million. This startup provides the best teachers for all types of competitive exams and provides a focus on detailed study while sitting in any corner of the country
These funded startups are: Byju’s, Unacademy and Meesho. Though exact amounts of  investment is not disclosed in these cases but, it is a well-known fact that the Facebook is just trying to integrate every type of business platform with the widely used messaging app i.e. Whatsapp. This will help Facebook in getting the data of the people, which can help Facebook to run a suitable ads for it, according to the needs and requirements of the people which can become a potential customers of different other businesses via Facebook ads marketplace.
The lockdown due to COVID-19 has created a big problem for all the start-ups and companies. This has led to a situation where companies are now fighting with a big cash crunches and one of the way to survive in this situation is either layoffs or cut down in the salaries of the employees. Udaan is one of the company which is dealing with the same situation. The company has laid off many of their contract workers. Let us see the complete story behind the Udaan layoff.
Story Behind Udaan Layoff
Story Behind Udaan Layoff
Udaan is a B2B e-commerce platform which provides a wholesale product solutions to different vendors in all categories. The start-up has fired thousands of its staff members; this week which worked over the contract basis with the start-up. One of the fired employee has started in the reports while talking to the news agency that, the message related to their landed was landed in emails respective emails starting 23rd April through 24th April. The Udaan layoff consist of the employees in sales, credit, collection team, and the delivery team whose lives have been impacted by the decision my by this start-up company.
Employees working in the start-up were issued termination letters without any prior notice or any other type of communication stating any type of layoff. As per an employee, over 200 employees have been terminated from their jobs and that too being fired with immediate effect, but the other sources tells that, this number could be around thousands, across Udaanâs pan India operations.
The terminated employees will be be given 1 month gross salary along with payment of all dues till 24th April 2020. Employees will continue to have a secure medical insurance coverage for 3 months post separation i.e. till July.
The udaan app enables users i.e. their potential customers or the buyers, to access to real insights into active trends and provides them many other premium B2B trade features in a single platform. The platform has enabled small and medium business owners to use the power of technology to nurture and scale their businesses without any type of tensions or problems while doing a business.
The countrywide lockdown has further stretched the burden over our survival as well as on the Indian start-ups. Companies are going for different types of cost-cutting measures in order to survive in this difficult period of time. Several companies have done their several job cuts are already done, people have been declared on temporary leave while others have been asked to take pay cuts in-order to retain their jobs. And this will not stop till the time this lockdown comes to its end, there can be another wave of layoffs expected in the next few months by the market analyst.Some of the status of different companies are:-
In the social commerce sector, startups like Meesho, Shop101 have let go of employees due to cash crunch.
Tech startup unicorns like Grofers, BlackBuck etc have also laid off employees due to many internal reasons which are not disclosed.
OYO Hotels and Homes has now asked its employees to accept 25% salary deduction effective for April-July 2020 payroll as there is no business in the market due to the present problems and it looks to overcome the impact on revenue from the Covid-19 pandemic.
Logistics tech unicorn BlackBuck is said to laying off around 200 employees as the transport sector faces massive disruption due to the lockdown and will be going to revive after the end of this global lockdown.
Meesho has laid off around 200 employees. About 40% of the companyâs key account managers, all business relationship managers and about 30-40% of the business development team have been laid off due to this problematic situation due to COVID-19.
The COVID-19 pandemic has become a big problem for all the people of the world. This has led to the situation that people are not able to go outside not even for earning money for their basic livelihood due to complete global lockdown. The govt. has asked the people to work from home. In order to work in this lockdown situation, the people are using different online conference platforms, which are able to connect all the employees together at their respective houses.
One of the successful app in this lockdown situation is the âZoom appâ, which is used by the people, the most in this stressful situation. But due to many privacy problems, the app is able to create problems for itself by just creating many alternative for itself. One of such platform, which have gained popularity because of this Zoom problems is the ‘Say Namaste‘ conferencing platform. Let us discuss in detail about it.
Working USP of Say Namaste Platform
Say Namaste– An alternative of Zoom app.
‘Say Namaste‘ is not actually an app, whereas it is an online tool or in other words an online platform which can be easily accessible through your trusted web browser. This conferencing platform is provided by a  private company based Mumbai named âInscriptsâ who has introduced ‘Say Namaste‘ video conferencing platform who got this opportunity after looking at cyber vulnerability in the very popular video conferencing app- Zoom app. ‘Say Namaste‘ is using open source techniques. These include making availability of end-to-end encryption like WhatsApp which works best with this service without affecting performance and any privacy concerns.
The ‘Say Namaste‘ platform is also backed by the Indian Government cautioned also cautioned the cyber and privacy problems against the use of the popular video calling app Zoom. The video conferencing platform- ‘Say Namaste‘ is currently available in Beta mode and is going under all the test to make the platform more secure to use without any tension of any privacy and other cyber problems.
Key Differentiating Points of Say Namaste Platform
Say Namaste– A Privacy Protected Platform
On giving interview to a channel, the CEO of the company says that he doesnât wants to work like âan all-purpose communications suiteâ but focus on highly interactive and easy to use interface who can be easily used by their customers.
The use of ‘Say Namaste‘ platform is highly easily as any user for now, just needs to create a meeting link using a randomly generated 10-digit ID and four-digit password and other users can join the session without any problem with the help of meeting link. Like the feature in Zoom, there is no âwaiting roomâ and on a single moment of time only one person can joins the meeting one by one.
At the present moment, ‘Say Namaste‘ can support 25 callers at once but the companyâs aim is to reach 100 callers limit per session. Besides video-calling, the platform also supports screen sharing, file sharing and text chats i.e. all the features which are supported by all the well-known conferencing apps for making an all-in-one multi-utility app. Anuj Garg, the co-founder and the CEO of Inscripts says that ‘Say Namaste‘ app is still under ta testing and has garnered over 500,000 users within a few days and they will be able to provide the stable version within a upcoming small portion of time.
Google has announced that they will be allowing the merchants to list their products on Google Shopping search results for free of cost starting with the US and to be continued in the whole world. This is one of the new way to kick start their work while helping the retailers to sell their product and asking the ads merchants to take the advantage of this new opportunity in the person of lockdown. The main concentration of Google in this case is to revive their revenue source in this difficult situation where they are not having work due to complete global lockdown. Google Shopping ads now drive 76.4% of retail search ad spend, generating 85.3% of all clicks on Adwords or Google Shopping campaign ads. Let us discuss that weather this initiative will be going to be a boon or a bane for Google.
Benefits of the Google shopping campaign
Benefits of the Google shopping campaign
The Google has shown the benefits and the interest of all 3 sections of the society (retailers, shoppers and ads merchants) who are directly connected with the Google shopping facility.
The change given in Google shopping, in the product search offering will help the retailers in such a way that; -now they will be able to get free exposure and experience to millions of people( new and existing) who come to Google every day for fulfilling their required shopping products and materials.
Like the retailers, the shoppers will be able to get more choices over the product and the brands over better pricing from more stores due to the new campaign by Google Shopping. This will be all possible on discovery through the Google Shopping tab on the Google search platform or Google search engine.
The advertisers will also get the benefit of this new facility provided by Google shopping in such a manner that, now they will be getting a new section for running paid campaigns because of this free listings on Google shopping tab. The Ads merchant will be able to get the advantage of the free listings, and this will inspire the new Ads merchant to work in this streamline and make it a new source of revenue.
Google has also made a new partnership with many other platforms for the Google Shopping tab that are working in the same field and helping the businesses by providing their premium facilities. These platform include
Google will be going to work with all the platforms which help the merchants manage their products and inventory in Google Shopping tab, easily without any tension of any type of e-commerce facilities. This includes Shopify, WooCommerce, and BigCommerce, which helps the make in making a virtual digital commerce platform for themselves.
During the period of COVID-19 and so far, Amazonâs trillion-dollar company, Jeff Bezos has been considered, the most notable winner in terms of business working and expansion who has added  $24 billion in his total wealth from the same time, the global shutdown began. While on the other hand, the tech giants like Google and Facebook who are having all their revenue from ads are facing heavy crisis, as there is no business in the world and so, advertisers has cut a big portion from their 2020 marketing budgets. This has pushed the tech giant like Google in the back-foot. The company is now trying to search a new source income in the person of global lockdown.
Since, all the businesses are shut down in this time period except the e-commerce and the basic utility business so, this tech giant is also trying all it’s strategies in the same sector by just integrating it their own business model and making this facility, free for all.
Since Coronavirus outbreak in Wuhan, China, the coronavirus has spread in many countries all over the world. As the number of infections and deaths from the coronavirus i.e. COVID-19 rise drastically, many governments, schools, and companies around the world are taking more drastic measures to restrain the virusâs spread. At this time, coronavirus has more than 118,000 cases and 4,290 deaths worldwide.
As the number of infections and deaths from the novel coronavirus are still increasing day by day, people are advised to avoid public presence, social gatherings, etc. At present, India has over 60 confirmed cases of coronavirus with employees in IT companies affected and 9.41 Lakh people have been screened at airports. Similarly, there are at least 1,267 cases of the coronavirus with more than 29 deaths in the United States.
Many major companies like Google, Microsoft, Apple & so on are also making sure that their employees do not get affected and stay safe during this outbreak. Google has advised all its employees in Europe, the Middle East and Africa to work from home starting March 12th, expanding a recommendation sent on March 10 to North America-based employees to work from home until at least April 10th.
On Sunday, Apple CEO Tim Cook encouraged employees at several of its global offices to work remotely âif your job allowsâ from March 9th to 13th. And by the end of last week, Apple, Facebook, Microsoft, and many other tech companies asked their employees in the Bay Area and Seattle to work from home. Moreover, Google also confirmed that it would give its hourly workers their regular pay if they had to miss work due to coronavirus. The US Centres for Disease Control and Prevention is urging Americans to ask their schools and workplaces about contingency plans, like working from home, in case they have to shut down over coronavirus. Companies from Wuhan to Silicon Valley have changed how and where they do business as the virus spreads on.
Due to drastic spread of coronavirus lately, many Indian corporations & startups are asking their employees to work from home. This includes Flipkart, Snapdeal, Swiggy, Paytm, Uber & Wipro and so on. Nithin Kamath, founder of stock broking startup Zerodha, stated that the entire team of 1,200 has been asked to work from home. Similarly, other Bengaluru-based startups like fintech startup Instamojo, edtech platform Unacademy, Byju’s, Bounce and  Meesho have asked their employees to strictly work from home to avoid any risk. E-commerce companies like Flipkart, Snapdeal, Paytm & also Swiggy are encouraging their employees to work from home by using technologies like videoconferencing to interact with their clients and colleagues. Also ride-hailing companies like Ola & Uber are asking their employees to work remotely especially if one is feeling unwell. Moreover, IT industries like Wipro & Tech Mahindra are taking necessary precautions by keeping employees,who travel overseas for their projects, in quarantine. Telecom major Reliance Jio Infocomm & Coal India have given their employees choice to work from home without any biometric attendance.
Companies adopting work from home due to Corona
Many companies are looking for solutions to enable their employees work from home without compromising the efficiency of work. For this, they are adopting various technologies & software. The Chennai-based office suite provider Zoho also made the announcement that it also implemented a work from home policy for its own employees. The company states that over 8000 employees across more than 10 countries will be working from safety of their homes until the virus is brought under control. Zoho uses Remotely toolkit to run their remote operations. Zoho Corp CEO Sridhar Vembu has been running the company from a remote farm near Tenkasi, a town in southern Tamil Nadu with the help of Remotely â the companyâs virtual collaboration and productivity platform. Now, Zoho is also offering the same tools to its business partners and clients for free temporarily. Zoho Remotely includes a selection of apps in advanced software suite which will enable communication and collaboration between colleagues and customers.
Similarly, the networking giant Cisco is offering its remote collaboration tool Webex for free under 90-day licences to businesses who are not its customers. Ciscoâs SVP and GM, Sri Srinivasan said that they would also be helping existing customers meet their rapidly changing needs as they enable a much larger number of remote workers by expanding their usage at no additional cost. He further revealed that that after the Covid-19 virus, traffic on the Webex backbone connecting China-based Webex users to their global workplaces has increased as much as 22 times.
At the same time, other companies are relying upon video conferencing and chat software. During this outbreak, the demand for Microsoft, Google, and Zoom’s Video Conferencing Software has increased significantly all over the world. This demand is expected to increase even more as the number of cases rises. As the number of school closures and quarantines increases, video conferencing will become ever more & more important. According to reports, Microsoft’s Teams collaboration platform has seen a 500% increase in usage in China since end of January. This usage is increasing in the U.S. as well, with more employees working from home. While, Zoom CFO, Kelly Steckelberg has said publicly that its usage is up significantly from its 100 billion minutes run rate at the end of January. During the same time period, the company also saw four-five times as many users in Japan, South Korea and Singapore.
Considering the risk and intensity of COVID-19, these companies are offering many services free of cost. All that demand has made the tech companies to make it easier and in some cases free to use their software. Microsoft announced that Teams is now free to anyone with an email address. Google said last week it’s offering access to its Hangouts Meet video conferencing service and all its G-Suite as well as to G Suite for Education collaboration platforms for free of cost. Even, Zoom has also lifted the 40-minute limit on meetings for its users in China. Now, it is being extended to schools and universities in the U.S. upon request. Slack, a messaging platform, already offers a free tier but the company is offering live Q&A and webinars free.
In the middle of worldwide health and safety worries, the company and its team once again shows its agility and tenacity by offering free services. This is really good gesture in tech market.
The whole of India was in shock after the ghastly attack on 40 CRPF personnel on 14 February 2019. Even though it’s been more than a year since that unfortunate day, people are yet to fully recover from it, especially the families of the jawans martyred in the terrorist strike. How ironic it is that a day of love and romance is now going to be remembered for death and grief. Incidents such as this one naturally give rise to the desire for revenge, and the retaliatory Balakot air strikes was a much-needed response. While retaliation took the form of physical attack, retribution happened somewhere in India but in a different way: the internet. Yes, we are talking about a cyber-war and Anshul Saxena, an Indian, has waged the same against Pakistan. Anshul has become a dreaded figure for those who still support Pakistan despite about the gruesome act that the Islamic nation carried out. Check out Anshul Saxena’s biography.
Anshul Saxena is a programmer and an ethical hacker. He’s active on YouTube and other social media channels where he shares news and personal opinions. Anshul regularly tweets about politics, foreign affairs, and national security.
Anshul Saxena
Anshul tweeted about various Indian hacker groups that took down Pakistani websites. People began to assume Anshul himself was a part of these hacks but he never made any claims about the same. Here are some tweets from the Anshul Saxena’s twitter handle:
4. On 17th February, More than 50 Pakistan Websites were hacked by Indian Hacker Group – 'Team I Crew'. When they sent me those links, I asked them about HTML links. They said it's sent from system in a hurry. Well, I removed HTML link from one site to check & found it hacked. pic.twitter.com/qknrACZsWH
Anshul is bringing justice to the fallen by drawing attention to those anti-Indians who are shamelessly celebrating the Pulwama terror attack on social media platforms. He finds them and files reports against those obnoxious individuals. With the help of India’s cyber police, Anshul also identifies anti-nationalists. It is because of Anshul that such masked terrorists who use Facebook, Twitter, etc. to spread negative sentiments have lost their livelihood and now repent their actions.
Anshul is the embodiment of patriotism. He went on to identify Indians who were uploading negative posts against the largest democracy in the world with respect to the Pulwama Attack. Some of these busts are:
Those Indians who have made fun of Terror attack on CRPF Jawans & sympathised with Terrorists on Social Media via Tweet & Facebook post, immediately send me their screenshots, links, & whatever detail you find on my email anshulhelp@gmail.com
Following the Pulwama attack, Anshul has amassed a following of more than 600,000 if all of his social media handles are considered together. In fact, Prime Minister Narendra Modi started following Anshul Saxena on Twitter for the latter’s efforts.ď¸
There are probably thousands of Indians out there who are retaliating against Pakistan through cyber techniques. Whether the technique is a good or bad tactic doesn’t matter here. Sharing Anshul’s posts will spread awareness about the incident, and people shall hopefully realize that propagating negativity on social media does no good. Impressionable minds in the form of Indian kids and teenagers also use such platforms and may get the wrong message if this negativity isn’t put to rest. Hence, Anshul deserves nationwide appreciation and recognition for his work.
Kudos to Anshul Saxena, the hero of the digital age!
The most romantic day of the year is round the corner and everybody is rushing to buy the best gift for their loved ones. If you are looking for that unique gift, exploring pre-owned products are a good choice as they are budget-friendly and environment-friendly.
Quikr has analyzed what products Indian customers are falling in love with based on the search trends seen on Quikr Bazaar platform in January 2020. Check out the six most popular products that can make your V-day grand!
Most loved smartphone: iPhone
Everyone aspires to buy an iPhone but affordability is a question mark. The availability of these phones at an average price of 19K on platforms like Quikr can fulfil aspirations. By the way, 24% of India searched for pre-owned iPhones around this time. Every effort to reuse counts and we are in love with Delhities as they top Quikrâs pre-V-day search list with their interest in pre-owned iPhones, thus doing their bit towards the environment.
Most loved fitness equipment: Cycles
Want to look fit together but donât know where to start? We say â Cycles, and that too at an average price of 6.7K! Nothing like enjoying the morning sun while riding together this Valentineâs Day!
According to Quikr data, about 21.1% of Indian consumers showed interest in cycles, out of which, Bangalore stands first for its interest. Although this could be the result of an endless traffic in the city, we believe Bangaloreans are already in love with the cityâs cool weather, and cycles are just an excuse to enjoy it.
Most loved furniture: Sofa
Opting for a pre-owned sofa has more personality than you can imagine; whether itâs the story of how you got it or how you will be putting it to use. Doesnât upgrading your living room with a pre-owned sofa for a movie night and some popcorn sound perfect? All this can happen at an average price of 13K! Quikr reveals that about 21.2% of people searched for the product with Bangalore being in the lead.
Most loved gadget: Laptop
First metros and now, non-metros. Refurbished laptops get a second chance at being loved as 15% of Indian consumers from cities across tiers have searched for it. This only means one thing â laptop love is spreading across India and that too at an average price of 22K and you donât want to miss out on it!
Most loved accessory: Camera
Amongst the 13% of India that searched for cameras, surprisingly, Guwahati is in the lead. Their search for this product which is available at an average price of 19.9K is almost equivalent to that of a metro like Hyderabad. Given its scenic beauty and tourist attractions, a camera sure comes handy when one has to freeze this beautiful place through pictures. You can capture the soulful happiness of your loved ones too or gift it to them to capture yours.
Most loved home entertainment: Video Games
Many discounts and offers on gaming products contribute to its popularity in the country, especially in metros like Delhi and non-metros like Nagpur and Gondia in Maharashtra. Quikr says that 7% of India searched for video games that are available at an average price of 13K. Spread some love by gifting your gamer friend the best pre-owned video game in town!
Online platforms for such goods are becoming a treasure trove of personal gifts that gets appreciated in emotional value as well. By choosing the pre-owned route, you not only get a chance to reuse, but also, reduce the burden on your wallet.
Honorable Finance Minister, Nirmala Sitharaman presented Union Budget on 1st February 2020 in the Parliament. The Union Budget 2020-21 unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long term measures.
The Union Budget 2020 has been structured on theme of âEase of Livingâ.
Farmer-friendly initiatives have been proposed such as:
Agriculture credit target of Rs 15 lakh crore for 2020-21
schemes of âKisan Railâ and âKrishi Udaanâ for a seamless national cold supply chain for perishables
expansion of PM-KUSUM to provide 20 lakh farmers for setting up stand-alone solar pumps
For Health Sector:
Union Budget 2020 proposes more than 20,000 empanelled hospitals under PM Jan Arogya Yojana for poor people
expansion of Jan Aushadhi Kendra Scheme to all districts offering 2000 medicines and 300 surgicals by 2024.
Infrastructure:
100 more airports by 2024 to support Udaan scheme
operation of 150 passenger trains to be done through PPP mode.
Let’s hear from some startup leader regarding what they feel about this Union Budget.
Mr. Udit Sheth
Vice Chairman, Setco Automotive
The budget is a very progressive one – the focus on infrastructure & spending will boost the job market and build confidence of the industry hand in hand. Itâs a step towards a robust economic reform agenda.
Prashant Garg
Country Manager, Garage Society India
Economies across the globe are moving towards a shared-wealth model as the ever growing population consumes the available resources. Both co-working and co-living are great examples of how shared wealth can benefit people, businesses, and boost the GDP of the nation. The government can play a crucial role by cutting down the GST slabs such business and providing certain tax benefits to increase the adoption rate, much needed for an emerging nation like India.
“This budget gives the entrepreneurs a big relief as the complications and workarounds of finding investment schemes should get eased out with the formation of Investment Clearance Cell, which will provide pre-investment advise, information on land banks and state level clearances. Also, since the audit is now required only if the earning is more than 5 crore annually for Micro, Small and Medium enterprises which was 1 crore previous year, people can concentrate on their business instead of worrying about compliance burdens. Although, the condition that 95% transaction has to be cashless to avail the benefit might prove troublesome to some businesses.”
“There seems to be a genuine attempt from the government towards promoting the ‘Make in India’ campaign by allowing tax exemption in Foriegn Direct Investment. However, the introduction of export tax may create financial burden for small businesses. Also, as the government allocates ample funds for SC & OBC, it would have been great if FM had given a thought for women’s safety related issues.” further added Mr. Vishal Saurav.
Mr. Dheeraj Khattar
Founder MyMobiforce
We are happy that Govt is continuously focusing on Skill development and In the current budget has planned 3000 crores for the same. But the challenge still remains the end outcome making these skilled workforce employed, self employed or given some entrepreneurship opportunities. Govt has to be experimental in spending money for skill development. The intent of skill development is to develop ability in people do the associated job. Govt should find out some avenues where job or opportunity givers ( MSME or Enterprise ) have higher stake in driving the training programs across the country and enables people to earn money.
Mr Manit Parikh
Country Head India, ELSA Corp
For India to have a $5 trillion economy, the youth have a key role to play in enabling this goal. The advantage of the ‘youth dividend’ needs to be channelised and enabled to put the country on the global map. There is a huge demand for individuals in various industries ccountries internationally as well. However, the skills do not match in accordance to demand by employers. So, by the government proposal of Rs 3,000 crore it allows the country to create quality skill development which will be available at affordable cost, focusing on 5 key components that are Visual, Reading, Listening, Speaking and Thinking among others are very important, especially via the use of emerging technologies such as Artificial Intelligence (AI), Augmented Reality (AR) / Virtual Reality (VR) and more.
There have been many Ed Tech companies in India like BYJUs, ELSA Speak and more who are at the forefront of this by engaging with both youth and adults in Tier 1 cities and beyond to empower and uplift them to have jobs and move away from ones which may soon become obsolete.
It’s good to see this budget emphasizing on the Indian spirit of entrepreneurship and aiming towards a digital revolution. We also welcome the pragmatic approach of allowing the private sector to build data center parks in the country and its new policy for integrated information portal.
I think it’s a very good move deferring the ESOPs or deferring it for 5 years, till they sell it or leave the company. Â I think it’s a very interesting move and startups will be able to exercise such facilities to hire more talents.
Though it’s financing for MSME is also a very interesting topic where a lot of MSMEs will be able to leverage this opportunity to scale, finance their invoices and keep increasing their production with the additional financing options that they would have.
And almost Rs 100,000 crore education sector package is subtly going to boost the economy to the education sector. Ed-tech companies and certain other educational programs are going to benefit. I am very sure interesting permutations and combinations are possible when the innovative startups come into the education space with this.  We will have to see the details of  Rs 99,300 crore package that the government has announced.
Mr. Jaikishan Parmar
Sr. Equity Research Analyst  Angel Broking Ltd.
This budget as such there is no big bang Positive announcement for the banking sector; however, Insurance cover for FD has increased from 1lk to 5lk was positive. For NBFC budget extended Credit guarantee scheme. Need to see how much new tax regime could impact banks other income as banks earn healthy fess income by selling third party products (Insurance, ELSS, etc).
To support MSME has asked RBI to extend existing debt restructuring scheme from current 31st March 2020 to 31st March 2021.The limit for NBFCs to be eligible for debt recovery under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 is proposed to be reduced from Rs.500 crores to asset size of Rs. 100 crores or loan size from existing Rs.1 crore to Rs. 50 lakh. This would help NBFC in recovery process for an even smaller loan.
Mr. Jaikishan Parmar
Sr. Equity Research Analyst, Angel Broking Ltd.
Finance minister Nirmala Sitharaman introduced new reduced tax slab for those who do not avail of any exemptions. This announcement has led to a plunge in insurance and AMC companies. This has created uncertainty of business growth of these companies, as many taxpayers generally use life insurance policies and ULIPS and ELSS to fill their quota of deductions.
Uday Somayajula
Co-Founder, ePayLater
It is a progressive budget with a clear push towards the socio-economic growth of the country with a focus on consumption push, MSMEs and enhanced digital connectivity. The budget touched upon almost every stratum of society with the aim of bringing greater ease of living for the citizens.
There is a visible thrust for a digital solution and emerging technologies such as AI, machine learning and data analytics, with the budget highlighting that Indiaâs new economy is based on innovation.
Further, we welcome the governmentâs proposal to provide digital connectivity to 1 lakh gram panchayats. We hope that the convenience, ease, and speed of digital transactions is extended to the remotest village. Such measures shall create germane ground for decentralization of innovation and democratization of data led services.
Shubh Bansal
Co-Founder, Truebil
This year’s budget lays down several progressive measures. As the Finance Minister proposes to ease the tax burden of ESOP on employees by deferring the tax payment by 5 years, I am positive about this move and welcome the introduction of ESOP at a larger level. I hope this would result in attracting world-class talent while keeping employee costs in check. As sovereign funds have been an important funding source for startups in India, I am happy that there has been an exemption of 100% for these funds on interest payments. Â I believe this move will further attract more foreign funding into the startup ecosystem.
The personal income tax rates that have been slashed are interesting, as these new slab introductions and an increase in the income limit for the existing slab will immensely help address the low consumer spending and boost savings and investments for an individual.
Additionally, itâs a proud moment for entrepreneurs like us as the Finance Minister quotes us as the âstrength of Indiaâ. Â Overall, we believe that this is going to give a boost to the entire startup ecosystem as the Union Budget 2020 proposes slew measures to ensure ease of doing business for Indian startups, including seed fund to support early-stage startups and investment clearance and advisory cell for entrepreneurs, among other measures.
Bhupinder Singh Â
Founder & CEO Incred
Much needed focus on agriculture and allied sectors which should give a boost to the rural economy and hopefully lead to higher spending as farmersâ incomes rise. The emphasis given to infrastructure is another positive that will improve our economic foundations and drive productivity. The tax breaks given to SWFs to invest in Indian infrastructure will give a fillip to inbound investment flows in this area.
The government has also reiterated its commitment to the disinvestment programme with the announcement of IDBI divestment and LIC IPO. Having made all of these positive points, I must highlight that ultimately a recovery in bank lending, which has not yet been forthcoming, is a must in order to get the economy moving at top speed again.
Chandrahas Panigrahi Â
CMO and Consumer Business Head Acer India
This is positive budget overall from the technology focus point of view. We are pleased that the Government is allocating Rs. 8,000 crore for the National Mission on Quantum Computing and Technology.
The governmentâs move on encouraging manufacturing of electronic equipment in India is also a big step as this would provide much needed impetus to technology and manufacturing sector, which has been developing capacities and generating employment opportunities. Also, more focus on technology such as Machine Learning, Robotics, AI will support the industry to grow and establish India as a robust ecosystem for technology and innovation.
Mr. Vivek Jain
Chief Business Officer – Shiksha.com, Naukri FastForward
The budget gives a good push to our education sector which in turn will help generate employment and boost our economy. The proposed investment in Study in India program will bring more youth from foreign countries and it will be a big step towards the aim of making India the education hub of the world. IND-SAT targets Asian and African countries only but we hope it will open to the whole world soon. Reskilling students and teachers will help us compete internationally.
Also the MBBS colleges in each district is a great initiative as we feel there is a big void in that area which needs to be filled. Now people will get full fledged online degree programs which will be offered by top 100 institutions which will be helpful for students who otherwise had to travel for quality education. We will be eagerly waiting for the new education policy and hope to see similar positivity like this budget.
Mr. Tirtha Pratim Banerjee
CEO & Founder – BRANCON Communication
The process of finding financial schemes will be easy with investment clearance cell which can provide state level clearances. The introduction of export tax will put burden on businesses who are trading in international markets. This indirectly promotes make in India campaign.
As the audit is now required if the earning is more than 5 crore for Small and Medium enterprise can concentrate on business rather than compliances. 100% deduction of profits for 3 years gives the initial kickstart for a startup. As quoted by the FM, “Entrepreneurship is the strength of India “, it gives immense hope to the startup industry for a bright future.
Ms. Anika Parashar
CEO – River Rock Ventures and Chairperson/ Founder- Organ India
Union Budget 2020 has focused on Indiaâs entrepreneurship strength, which is a positive move for the countryâs economy. In a major boost to startups, FM Nirmala Sitharaman has proposed to increase the upper limit of revenue to Rs 100 crore from the existing Rs 25 crore.
I welcome this move on creation of an investment clearance cell, which will provide end-to-end facilitation to assist startup owners/entrepreneurs in funding. It will help in faster clearances between the state and the Centre. The turnover limit of startups has grown which will prove beneficial for the budding forums to expand.
The honorable FM in her budget speech devoted considerable time to the MSMEâs. Generic tax rate rationalization in the hands of the individual taxpayers (which should see more consumer spending because of higher disposable income), and some other policy announcements are expected to create a relatively positive business environment for the MSMEs.
The FM also mentioned how MSMEs have been benefitted through enhanced threshold and â¨composition limits, and made some specific announcements with regard to MSMEs in this yearâs budget
Invoice financing
Amendments has been proposed in the Factor Regulation Act 2011 which will enable NBFCs to extend invoice financing to the MSMEs through TReDS, thereby enhancing their economic and financial sustainability.
Provide subordinate debt
We are all aware that working capital credit remains a major issue for the MSMEs.It has been proposed to introduce a scheme to provide subordinate debt for entrepreneurs of MSMEs. This subordinate debt to be provided by banks would count as quasi-equity and would be fully guaranteed through the Credit Guarantee Trust for Medium and Small Entrepreneurs (CGTMSE). The corpus of the CGTMSE would accordingly be augmented by the government.
Extension of Restructuring window
The debt restructuring window for MSMEs (More than five lakh MSMEs have already benefitted from restructuring of debt permitted by RBI in the last year) was to end on March 31, 2020.Government has asked RBI to consider extending this window till March 31, 2021.
App-based invoice financing loans product
To solve  the problem of delayed payments and consequential cash flows mismatches for the MSMEs, an app-based invoice financing loans product will be launched. Focus on exportsFor selected sectors such as pharmaceuticals, auto components and others, the honorable FM has proposed to extend handholding support â for technology upgradations, R&D, business strategy etc. A scheme of 1000 crore has been announced and financing details shared.
I see some positive initiatives being taken by the honourable Finance minister with regard to the education sector in this years budget, some of them which I would like to highlight are
New Education policy
Good to know that the new policy will be unveiled soon, and I am really excited to know that more than 2 lac suggestions have gone in.
On line degree courses by top 100 institutions
In a country  as big and diverse as ours, the only way to leapfrog and ensure delivery of quality education to students in every remote corner of the country  has to be centralized building of quality content and online delivery using best in class cloud based storage and technically robust delivery requiring minimal resources at the users end. Thus this should be a very welcome step, subject to proper on the ground implementation.
Developing India as a education hub
The announcement with regard to introduction of â Ind â SATâ exam is definitely a step in the right direction, however this is only a first step and there are lot of other steps including creating of world class infrastructure with adequate bandidth ( which can accommodate overseas students after doing justice to domestic aspirations) which will need to be seriously taken.
However  if implemented properly, this will promote cross cultural exchanges and create a fan base for our beloved nation amongst tomorrows leaders in the developing world.
Apprenticeship and internship opportunities
Opportunities for fresh engineers to work in urban local bodies and apprenticeship opportunities in 150 higher education bodies reflect practical thinking, but these are baby steps in the right direction given the enormity of expectations that a force of billion dreams brings in.
ECB, FDI & PPP funded projects
This is really important, as the announcement by the honourable FM clearly gives emphasis on increasing bandwidth ( Attaching medical colleges to district hospitals) and also on delivering quality education).
Skill development to increase employability
Announcement of special bridge course to develop language as well as domain skills to cater to job opportunities in overseas markets for teachers,Nurses,Care Givers and para medical staff is a very good step and should positively impact the lives of not only our young job seekers but also there families and communities that they are part of.
Given the ageing population in the developed countries and the huge demographic advantage that we currently enjoy, this is a logical and inevitable step.
This is a very strong Budget in terms of focus on fundamentals. It has focused on agriculture, simplifying tax structures, infrastructure, and on self-reliance for the long term. The Honâ FM has tried to create a level playing field by going to markets for fundraising rather than through the tax route. The continued emphasis on technology will help in the coming years to ensure ease of business, transparency and better compliances by all stakeholders. With tax rates reduced on the existing tax slabs, consumers will have more to spend. We are happy that e-commerce was today defined for the first time in the Budget and we look forward to policy initiatives on new-age business formats. With tax-deferred on ESOP and early-stage fund for start-ups, we feel this Government has good intentions to ensure that technology and knowledge-based entrepreneurship is encouraged in our country.
Pankit Desai
Co-founder CEO, Sequretek
The Budget every year rides on massive expectations from the salaried class, corporates, MSME and startups. For the last few years, startups, tech, VC investments, govt aided funding started finding regular mentions but fund allocation to these areas were never eye-popping. But FM gave us a pleasant surprise by announcing Rs 8,000 crore on National Mission on Quantum Technologies and Applications. For companies like ours in cybersecurity space, it is a good move if it becomes a model for creating a replicable cyber forensics setup. Today each state has its own setup and there are some universities that have build out capabilities, but there is no standardization. With increased cyberattacks, the need for a national capability to identify the perpetrators and supporting law enforcement would be welcome. Devil lies in detail, though, so we will need to understand these initiatives once the fine print is available. Having said that, Startups are finding quite a bit of mention in the budget, making them a key part of the growth strategy. We are happy to see that the representations done by the startup ecosystem seem to have found resonance in the budget.
Mr. Sachin Mittal
CEO & Founder – Loanwalle.com
In the recently proposed Union Budget 2020, the Governmentâs focus on entrepreneurship for startup businesses is commendable, as that will generate more job opportunities in our country. Speaking on the financial side, the Government emphasised on more liquidity flow within NBFCs which will help boost the current slopping NBFC and private lending sector. Further, it will allow increased lending opportunities with greater ease. We applaud the new announcement by the FM where NBFCs having turnover of INR 100 crore will now be eligible for SARFAESI (The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act). While earlier, only companies with a turnover of INR 500 crore were eligible to recover their debts by selling properties of the defaulters, going forward, the new Budget announcement will allow smaller companies as well to recover their debts. This will further offer more capital flow in the market.
The second budget by Finance Minister, Nirmala Sitharaman catered mostly to the demand side of the economy. By putting in more money in the hands of the individuals, Honâble Finance Ministerâs take on abolishing the Dividend Distribution Tax (DDT) is surely a tax relief for the middle class and lower-middle-class segments, while on the corporate side it is highly positive for all consumption-linked Auto sector companies, and the overall market. The simplification of the tax regime is sure to improve public sentiment and boost the economy. This budget is likely to revive our countryâs economic growth and create new job opportunities.
Mr. Satish Gupta
Executive Director, JK Technosoft Ltd
In the era of globalization, the Union Budget 2020 focused deeply on âAspirational Indiaâ and âDigital Revolutionâ with emphasis on evolving the economy digitally by skilling India and increasing job opportunities in the budding as well as cross-cutting fields of Data Analytics, Artificial Intelligence (AI) Robotics and Machine Learning (ML). The Government also announced building of data centre parks throughout the country along with allocation of INR 8,000 crore to set up for the National Mission on Quantum Computing and Technology. Furthermore, the use of AI in ‘Ayushman Bharat’ Yojana, will help in developing the healthcare industry using advanced technology such as AI and other enterprise solutions, thereby achieving seamless delivery of services. We also applaud the Governmentâs move to empower Rural India by helping 20 lakh farmers set up standalone solar pumps and 15 lakh solarise grid-connected pump sets.
Co-Founder & Director – Transerve Technologies Pvt. Ltd
The Governmentâs vision of âVibrant Indiaâ bought in immense focus on âDigital Governanceâ that is likely to bring in a paradigm shift in the overall economy. We are delighted to hear that the Government ULBâs (Urban Local Bodies) internship opportunities for civic-welfare programs will help in increasing job opportunities and in turn Skilling the Indian Youth.
Mr. Ashwani Rawat
Co-Founder & Director – Transerve Technologies Pvt. Ltd
We commend the Governmentâs announcement of proposed budget allocation in setting up 5 new Smart Cities under PPP model and further extend our support to this initiative. While the Government proposed to expand the horizon of ongoing âSwachh Bharat Missionâ in order to undertake sustainable solid waste management harnessing latest technology in every village, we further hope that this initiative highlighted by the FM would be extended to urban areas as well.
Ms. Ruchi Garg
CEO & Co-Founder – Venuelook
The full-fledged 2020 budget is commendable as it has all the right points for the Indian economy to be a game changer in the year ahead. With emphasis on âentrepreneurshipâ and âstartups,â we are glad the Government has opened a path to creating more job opportunities in the country. Furthermore, more regime in technology will help startups and the private sector to reach Tier I and Tier II cities, as it will give more opportunities to young talents. Observing the proposed mission-vision on women centric developments and targets to boost the Indian economy, this budget will motivate many women to come forward and embrace women entrepreneurship in India.
Mr. Vinay Jain
Founder and CEO, Grafdoer
We appreciate the Government’s focus on sanitation industry under Swachh Bharat Abhiyan campaign committing to Open Defecation Free Country by allocating INR 12,300 crore. This is an exceptional move towards the development of our nation. The Governmentâs emphasis on supporting the MSME sector by providing employment opportunities and providing  a subordinate debt by banks is a much appreciated move. We are positive about the Governmentâs focus on boosting the domestic manufacturing sector, as that will further boost Made In India. Also, the reduction in the Income Tax Slab has given a relief to the middle class sector of our Society, as it will increase their buying power and boost the market.
Mr. Gautam Seth
Joint-Managing Director – HPL & Electric Power Ltd
The annual budget announced by the FM has given special impetus to the power and infrastructure sector and allocating Rs 22,000 crore for renewable and power sector is going to push for faster development and growth across sector. The announcement made by FM to replace energy meters with pre-paid smart meters will further help in complete digitization of the whole system and will help in bring about more financially healthier utilities. The FM has urged state governments to implement smart meters in the next three years and HPL being one of the leading manufacturer of smart meters sees this as a huge opportunity. In addition, the implementation of five Smart city projects in PPP mode will give more opportunities to the private companies.
Satyen Kothari
Founder & CEO – Cube Wealth (ex-co-founder Citrus Payments)
The esop policy is a good acknowledgement of how incentives in private companies work. However the limitations need to be examined to understand whether these work for younger startups in a practical manner. Most employees would exercise options at time if quitting or when the actual sale happens. In the former case this new policy is still imposing taxes, it seems. The devil is in the details.
Dr. GSK Velu
Chairman & MD, Trivitron Healthcare
Budget 2020 is visionary and in accordance with the policy of improving and expanding healthcare services reach to all. Make in India initiative for Medical devices industry has been given a big boost. Imposing health cess on the import of medical devices will help domestic manufacturing companies.
Further, using tax proceeds to fund the creation of healthcare infrastructure will help address issues of capital requirements for building healthcare infra in Tier- I & II cities.
The government is focused on creating the healthcare infrastructure and invest extensively in improving healthcare services in tier I-II cities in the country. Announcement of extending the ambit of Ayushman Bharat through the establishment of PPP model hospitals in 112 new districts of India will improve healthcare infrastructure. Â Â
Increasing the budgetary allocation for the healthcare sector to 69,000 crores will enhance primary health coverage and strengthen health and wellness centers (announced under Ayushman Bharat) which will help to reduce the disease burden.
Kalpit Jain
Group CEO, Netcore Solutions
The Budget 2020 was expected to perform a balancing act between agriculture, manufacturing and technology sector â the key drivers of the economy. We believe FM did justice to all 3 by announcing forward-looking programs and initiatives. For a global technology player like us, setting up of data parks in India is a welcome move as this will ensure enhanced data safety because servers and allied infrastructure is likely to be hosted in India, globally benchmarked practices of data encryption will ensure that customersâ data is not misused or profited from as the momentum around Data Protection Law gathers steam. This may just be a pre-cursor to that. While we await for the finer print, programs like Knowledge Clusters should help younger tech companies in securing their IP and safeguarding their core product codes. It will also motivate them to apply AI, ML and deep tech for more refined solutions of existing problems in the Country.
P.Srinivasavaradhan
President – TVS Srichakra Ltd
We welcome the steps on revisions in personal income tax slabs under the new tax scheme, with the changed direct tax structure some surplus income will be available which can drive consumption. These are key to boost manufacturing and revive consumer sentiments. Major fund allocation for infrastructure, warehousing and  logistics through rail, land and air will allow manufacturers to strengthen the business footprint domestically and are in line with international best practices will make India more competitive globally in the years to come.
Consumers who had deferred their purchases now hold the key to aid growth in the automobile sector as well as the auto components sector. The economy can look forward to be buoyant and we are glad that the government in this budget has introduced steps in different areas to reduce the stress on the manufacturers as well as the customers. Government’s step to extend support in the areas of technology upgradation, R&D will boost the auto component sector.
Anil Joshi
Managing Partner – Unicorn India Ventures
FMâs first full Budget has something for everyone. She tried to address employment generation issues, providing access to education, emphasized on embracing tech and next-gen concepts like IoT, AI and ML. We are happy to see that the FM has kindly agreed to long pending demand from industry on ESOP, the new guidelines will certainly help startups attract good talent and reward suitably through ESOP, the ESOP guidelines will help in structuring the benefit to deserving employees. The increase in the turnover limits from Rs 25 cr to Rs 100 cr for claiming off-set on profits is a welcome announcement. It will boost cash flow situation at early-stage startups who sometimes fail before take off because of liquidity crunch. Also, by exempting companies with turnover upto Rs 5 crore, from audit, reduces compliance burden on them.
The Govt has also proposed a policy on early life and seed stage funding for startups to validate their business idea and run POCs, we believe, this would help grass root development and will encourage more university led IPs would good boost for innovators. However, the fine print will tell us what kind of financial support would early stage startups get in the coming months. We hope the procedure to avail these services are less complicated. Also, our industryâs demand on tax parity still remains unattended. However, we are hopeful that the govt will give it thought in time to come as we are continuously seeing the focus on startups and investors increasing in the last 5 years. Overall, it is a Budget with an aspiration to revive the economy from its current slowdown.
Kavita Mehta
Founder & CEO, Caymus Tech Ventures
The Union Budget 2020 has allocated over Rs One lakh crore for education and skills upgradation in India. That the focus on education and skills was well rounded and didnât seek to push one or two top verticals like technology and management streams was especially promising. The FM focused on providing access to education for people from underserved and poor sections, making technology and digital formats the delivery mechanisms. Further, in order to open up employment opportunities the creation of initiatives such as one-year long internships and apprenticeships for. Clearly, the idea is to use technology to reach more young people, provide access to education, and empower them to land in-demand jobs.
It is encouraging to see announcements like New Education Policy, financing the education system to attract top talent, online degree courses, bridge courses for support staff, and making India a global education hub. The Government recognizes the urgency with which the worldâs largest working age population needs to upskill in order to have a positive impact on society and the economy. FMâs repeated emphasis to deliver education through portals, designing of new courses and providing viability gap funding for colleges and State Government, will help meet aspirations of young Indians who are comfortable using technology to educate and upskill themselves.
Pravin Agarwala
Co-founder & CEO – Betterplace
Good move in terms of taxation on startups. All startups are looking at the road towards profitability and deploying that back into the company to expand thereby increasing employment. Increasing the revenue limit to Rs 100 crore and duration to 10 year, Â a great move forward. The other key aspect is ESOPs. Employees who come on board with ESOPs and build a company along with the founders. It has been a long-standing demand to tax them only at the realisation of ESOPs. The proposed deferred payment of 5 years in tax liability will ensure people get what they deserve and also encash at the first potential opportunity. This would excite them to be part of startups and increase the importance of ESOPs. This would also encourage more employees to participate in the program. Moreover, this would also help more liquidity in the market as the transactions would take place. A win-win for startups and its team.
Jobs generation across the spectrum was also a key point in the Budget speech. There is a need to generate both blue and white-collar jobs for the Countryâs youth. While on one hand setting up of online degree courses and internships would give a boost to the education sector, we believe that the infrastructure sector which is set to see massive govt-funded projects being rolled out would generate jobs for grey and blue-collar workers. We work closely with the National Skill Development agency and would be awaiting keenly for a detailed plan to employ youth in construction, operation and maintenance of infrastructure being built in the Country. Furthermore, we find the proposal to design bridge courses for nurses, caregivers and paramedical staff for postings abroad quite promising for the semi-skilled sector. The Ministry should take a leaf out of this and see if the same can also be implemented in India as we see demand for such roles also growing rapidly in the domestic market too.
Mr. Ankit Agarwal
MD – Alankit Ltd.
An encouraging  budget, it has reduced the personal income. Tax across levels and added new 15 per cent and 25 per cent slabs;  at the same reducing exemptions so one would have to see the benefit that actually comes to the taxpayer.
The focus clearly is on increasing compliance and reducing litigation; further a reduced corporate tax to 15% and tax on ESOP deferred by 5 years are good moves made by the government. Once again the FM Touched upon simplified  GST Filing and simplified refund prices; which is the need of the hour. SMS  filing are good moves.
The setting up of an investment cell is very interesting. Â Getting access to the Fund of Funds has been something most startups are looking forward to. With the investment cell, this is further augmented by getting advice on setting up your business and also investment options available to startups.
The FM also talked about how the travel and tourism industry is being infused with 2500 Crores this year. As a travel startup, this is great news as much as it is for increasing earnings at a local level for individuals.
MSMEâs stand to benefit from a single platform e market place for exchange of goods. We are excited to see what this entails and how it pans out.
Ms. Sumita Tulsiani
Co-founder – TravelDilSe
Startups are being recognised as a strong force behind the aspirational India in todays Budget 2020. As quoted by the finance minister âEntrepreneurship is strength of India.â Setting up a portal based investment clearance cell by the government will uplift the startup ecosystem and will further strengthen Indiaâs position Globally.
Given the Entrepreneurial spirit in India, backed by governments support, the startup ecosystem across sectors especially Agriculture & Health care will generate lot of employment opportunities. Â Recognition of AI & ML as cutting streams, proposal to have full-fledged online degree programmes showcases the vision to position India as a digital nation.
The budget also focuses on boosting the tourism sector by developing of 5 archaeological sites as Iconic Sites with museums that will indirectly help startup like ours in the travel technology space to expand our business.
Mihir Mehta
Senior Vice President – Ashika Capital Limited
The proactive approach of the Government in building an ecosystem for budding entrepreneurs is laudable. The provision of funding and setting up an organized platform for the same is a much needed move because financial capital often becomes an impediment for growth and sustainability.
I feel we have just touched the tip of immense entrepreneurship potential in India and support from the Government in terms of financial capital will be a major boost.
Arvind Singhatiya
Founder & CEO, LegalKart
Keeping innovation at the forefront, the Union Budget 2020-2021 is deeply focused on promoting âtechnological developmentâ through Artificial Intelligence (AI), Machine Learning (ML) and Data Learning that will support immensely in digitalising India. The Governmentâs proposal on creating a âNational Logistics policyâ and âlitigation in the reduction of taxationâ will be of great help to all startup businesses. Furthermore, the introduction of âTax Payer Charterâ will help in curbing the tax harassment.
