Editor's Desk

Vivek Nama

Vivek Nama
FOUNDER-STARTUP2DAY

Hello Everyone!
 
Its Shivarathri and the scorching sun is already showing us the heat even before summer sets in ... Can’t imagine how the temperatures are going to be when its actually summer! I have been travelling extensively around Telangana, Karnataka and Delhi, visiting our sites, filing tenders and checking out realty and infra exhibitions. The more I see the more it amazes me as to how technology can actually change the way in the constructions sector works. Mean machines and they get bigger & better ,which complete tasks in a few weeks, whereas in the past it would take months just to get that completed like the new graders, concrete mixing machines, slipform pavers etc.
 
This time around the Union Budget 2017 has also been friendly for the infrastructure. A total outlay of Rs. 3,96,135 crore on infrastructure is up by 10% over FY17 revised estimate and the roads and highways allocation up to Rs. 64,900 crore from Rs. 52,447 crore  as per the revised estimate. Rural roads construction work is to accelerate to 133 km/day in 2016-17 from 73 km/day in 2011-14. Affordable housing has been given infrastructure status and tax incentives have been given, too. Lock-in period for long-term capital gains on land and buildings reduced from three to two years.
 
So we hope to see better days ahead for road construction firms by way of fresh tenders and road projects which is why I have been super busy!
 
 
There hasn’t been much for the start-ups though apart from the increase in the tax break period from 5 year to 7 years for the profit-linked deductions period, the timeline to claim Minimum Alternative Tax  (MAT) credit has been extended to 15 years from 10 years and the condition for set off against losses where if a company is allowed to carry forward losses for up to 7 years and then set off against profit after 7 years. But the carry forward of losses is allowed only if there was 51% shareholding intact in the period of loss. 
 
Let’s hope for a brighter future for Start-ups which can rightly be called the job creators and the backbones of economic growth in our country! See you all in March  and have a great weekend... 
 
VIVEK NAMA
FOUNDER-STARTUP2DAY
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