Government should provide 1-3 years of tax and compliance holiday for startups under its ambitious ‘Start Up India’ initiative, young entrepreneurs said.
Prime Minister Narendra Modi will launch the programme on January 16 to benefit technology-centric startups in sectors like healthcare, education and others.
“We think a 1-3 year tax and compliance holiday should be considered for startups. A single window clearance must be provided for setting up a company. Shutting down a company should also be simple,” ClearTax Founder and CEO Archit Gupta told the news agency.
Founder and CEO of healthcare app service Medikoe, Sreevalsam Menon, said the initiative makes start-up ecosystem validated by the government, and thus will propel greater innovation and technology adoption going forward.
“Focus should be more on rural job creation, agriculture sector, health-care business and businesses involved in doing socio-economic activities,” he said.
Ride-sharing start-up 360Ride is of the view that the initiatives will help all sectors involving Government regulation.