New Delhi: The government is taking significant steps such as completing the angel tax issues, simplification of tax procedures, and self-certification, in an effort to improve the startup ecosystem state, trade and industry minister Piyush Goyal said on Friday.
He also said that great opportunities exist to start at level 2 and 3 cities and areas such as advertising, marketing, professional services, fitness and wellness services and audio-video game.
Startup must utilize modern technology for local and global market, he said while speaking at the launch of the annual technology startup Nasscom report.
“We are trying to take significant steps to improve the startup ecosystem …
we have a budget that will come soon and we are all anxiously waiting to see and hear what is done with a few requests (recommendation) …,” said Goyal.
He added that the government focuses on reducing the compliance burden for promoting ease of doing business.
More than 26 500 compliant and has been simplified, digitization or completely removed from the legislation and “we have to decriminalize nearly 770 violations,” he added.
Talking about the Open Network for Digital Commerce (ONDC), he said that this platform will allow interoperability between e-commerce and provide a great opportunity to reach small and ordinary people.
“The next moment could be Ondc UPI, which will help the new age technology in making access to the common man at an affordable cost and also provide new opportunities for us to grow in India,” said the Minister.