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K S Bhatia, CEO, Pumpkart |
“I
personally praise the UT Administration for giving tax exemptions to start-ups.
Tax exemption for capital gain is a great step,” said Bhatia in a statement on
Sunday, while advising the city administration to allow tax-free property
registration.
“This
will encourage more startups to come and invest in the region. Similarly, seed
funding of Rs 50 crore is a good step but it should be increased to Rs 100
crore. Minimum seed funding should be Rs 50 lakh per start-up,” he added.
Bhatia,
who has set up 150 plus stores of Agri machinery in Karnataka with a grant of
two million US dollars from the Government of Karnataka, said that UT
Chandigarh also needs Skill Centres along with incubation centers.
“The
UT Administration should encourage logistics, fintech, and agri-tech startups
who can contribute a lot in the economic development of both
Reflecting
further, Bhatia said: “In the startup parks, plots should be allotted to
startups at a very reasonable price to some bigger startups who are leaving
other cities like Bengaluru,
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