For all the right reasons, the Union Budget 2022-23 has been a talk among the startup founders & investors. Budget Plans have covered all the sectors ranging from infrastructures to education initiatives this year and The Modi Government is all about Atma Nirbhar Bharat.

Amarnath Sankar, says, “Startup Founders & Investors are definitely to benefit from Union Budget 2022-23. Currently, the Indian Startup ecosystem is ranked Number Three globally. It seems the Government has the vision to take it to the 2nd rank in the long run.”

Amarnath Sankar, the founder CEO of CAT productions, said that the revised maximum surcharge on LTCG (long-term capital gains), capped at 15 per cent, is very significant. In addition, it slices down the effective tax rate to 23.92% against the old rate of 28.5 per cent. “This will apply to domestic investors, employee stock option holders, and the founders.” He also mentioned that “Unlisted securities are taxed at 2.4 times the rate of their listed counterparts on long-term capital gains.”

“More money will come back to the ecosystem, which can be further invested back into the startups,” he added.

“Implementing the Union Budget 2022-23 will surely bring up many positive changes to the economy. Most of these financial decisions are pointing towards a progressive nation walking bit away from its olden days”, he added.

The long-standing demand of new-age companies that wanted share sales of unlisted firms to be at face value with those of the listed ones is one of the major points addressed in the Union Budget 2022-23.