Budget Reactions | Haigreve Khaitan, Senior Partner, Khaitan & Co. Comments On Startups, Clean Energy

The Union Finance Minister Nirmala Sitharaman introduced the Budget 2024 in the Parliament on Tuesday.

Haigreve Khaitan, Senior Partner, Khaitan & Co. said, “The abolition of angel tax for all investor classes is a gamechanger for startups looking to meet their funding needs. The announcement of focused schemes to boost employment and skilling for over 4 crore young Indians, along with the direct benefit transfer scheme for those entering the workforce are necessary steps to tackle the rising concerns of unemployment in the country."

“Specific energy transition strategies and roadmaps across industries is another welcome step, sending a clear message that the government is reiterating its commitment to its ambitious clean energy goals. All in all, we see a growth-oriented budget which has also provided some relief to taxpayers. While the initial market reaction was a bit of a dampener in light of the capital gains tax increase, there are several positive indicators one can take away when looking at the bigger picture,” Khaitan added.