█ RAJ NAIR -
President, IMC Chamber of Commerce and Industry

‘No country for startups’

I would not call it a regular Budget or an interim Budget. I would call it a brilliant election Budget. And finance minister Piyush Goyal has promised things that he can actually deliver. I do have a small concern, however, regarding how the 3.3 per cent fiscal deficit part of it will be managed, because most people were expecting the deficit to be brought down. The basic universal income offered to farmers was also no surprise, since we expected this to take some form in this Budget because it has been a much-discussed issue for the last few weeks. My other concern is about the angel tax. We were hoping for some relief on that front, but that hasn’t happened. The prime minister wants India to grow into a $5 trillion economy, and proudly talks about India being the third-largest home to start-ups, but continues to levy this tax. There is a big discrepancy in this.