Start-up crowd loves Budget 20-21, but education capitalists swoon

BENGALURU: Hopes soared when finance minister Nirmala Sitharaman, early into her Union Budget speech Saturday, launched off with remarks like ‘India will have the world’s largest working population in the world by 2030’. That’s the kind of things people say when singing hosannas about India’s so-called demographic dividend.

Well, the remarks yielded an allocation of about Rs 99,300 crore for education with Rs 3,000 earmarked for skill development. That paltry allocation, just 3 per cent of the entire budget, put industry experts into a swoon.

The startup crowd was a bit more enthusiastic though. “For a start-up like us, the tax concessions extended are welcome. Also, the cess on imported medical equipment has been reduced from 20 per cent to 15 per cent. Although we need to read the fine print, but broadly speaking healthcare has been very well taken care of,” said Pooja Grover Kapoor, co-founder and director) of Continua Kids.

Source: http://www.asianage.com/india/all-india/010220/start-up-crowd-loves-budget-20-21-but-education-capitalists-swoon.html

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