In anticipation of the Union Budget 2024, there is a strong call for enhanced support for the digital economy, which is seen as central to Prime Minister Modi’s vision of a 'Viksit Bharat' by 2047. Experts stress the need for bolstered digital infrastructure, innovation incentives and a favourable regulatory environment
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The Union Budget is expected to be finely balanced, maintaining fiscal prudence while addressing key startup priorities, including tax reforms, infrastructure investments and enhanced support for emerging sectors like Cleantech, deeptech, AI and more
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Additionally, Indian startups have filed over 12,000 patents from 2016 to March 2024, with more than 13,000 working in advanced sectors like artificial intelligence, the Internet of Things, robotics, and nanotechnology
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Venture capital investors and startup founders are hopeful that the Modi Government 3.0 will repeal the angel tax
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The seed fund, launched in April 2021, was allocated over four years to support eligible startups through incubators nationwide
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