New Delhi, June 27 (KNN) The budget 2019 should unleash a series of economic reforms to turn India into an economic powerhouse, said Anmol Kukreja, Co-Founder & CEO, Skillbox.

While sharing the expectations on general budget 2019, he said start-ups will play a vital in the transformation by fostering innovation and generating employment.

Therefore, we expect the government to maintain the momentum of the Start-Up India program by streamlining taxes and making Goods and Service Tax (GST) and Tax Deducted at Source (TDS) filing on a quarterly basis for startups, who are currently reeling under the pressure of working capital crunch due to the monthly filing, he added.

 Also he asserted that Foreign Direct Investment (FDI) and Reserve Bank of India (RBI) rules must be ease and make the regulatory environment easier for start-ups who are raising funding overseas. Filings and compliances are quite cumbersome and we expect the government to make the process frictionless through an entirely online process.

Also he said, “We believe going 'cashless' is the way to go to improve transparency in the country's economy and reforms around that would be welcome.”

The government should draft a new law to penalize parties who do not honor payments within 60 days of invoice rising. This will go a long way in improving trust between parties and make the country business friendly, he added.

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