homestartup NewsBudget 2023: Accelerator fund for rural agri startups is a great step, says DeHaat CEO
Budget 2023: Accelerator fund for rural agri startups is a great step, says DeHaat CEO
To discuss the budget impact on the startup ecosystem, Startup Street spoke to Siddarth Pai, founding partner, 3one4 Capital and the Co-chair of the regulatory Affairs Committee at IVCA; and Shashank Kumar, Co-founder and CEO of Agritech Startup, DeHaat.
The Union Budget ushers in a dawn of hope for agritech in India. The sector has received the much-needed push, in fact the budget said, India's agricultural and allied sector GVA could rise by 10.2 percent during 2023-25. But it has also missed some of the long standing asks of the startup sector such as ESOP tax reform, rationalising capital gains between listed and unlisted securities and more.
In a conversation with CNBC-TV18, Siddarth Pai, founding partner, 3one4 Capital and the Co-chair of the regulatory Affairs Committee at IVCA; and Shashank Kumar, Co-founder and CEO of Agritech Startup, DeHaat, discussed the budget impact on the startup ecosystem.
Kumar said that having a strong focus in terms of a dedicated seed fund for the rural agri startup, is a great step in that direction.
"Encouraging rural based or rural area based agri startup, I think that's the right step. Because then only the problem statement will be very well taken care of and the solution will be localized regionalised personalized from the Indian farmers perspective, whether it's related to financing or soil test or any other local innovation," he said.
Budget 2023 had several things in store for the fintech sector. From expanding the corpus for MSME credit guarantee and setting up the national financial information registry to making pan the common identifier for digital systems, and simplifying KYC process and allowing access to the DigiLocker. At the same time, the government cut down the subsidy meant for compensating fintech startups and banks that facilitate UPI transactions to Rs 1,500 crore in this budget from Rs 2,137 crore earlier. What did the industry make of these announcements, and how will it be impacted?
For the entire discussion, watch the accompanying video
(Edited by : Anushka Sharma)
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