New Delhi, Feb 2 (KNN) In response to the Interim Budget 2024-25 announced on February 1, The Startup Board's Co-Founder & CEO, Ashish Jain, expressed optimism about the potential impact on the start-up ecosystem.

Jain commended the government's allocation of Rs 1.11 Lakh Crore for capital expenditure, foreseeing a dual benefit of infrastructure enhancement and reduced logistics costs.

“This will spur improvement in infrastructure like roads, ports, railways, and logistics, thus reducing the per kilometre cost of road logistics from the current Rs 3.6 to half. It will bring lots of innovative solutions from big companies and start-ups alike,” Jain exclusively told KNN.

The CEO highlighted the broader economic effects, stating, “Investment in Capex/Infra will also spur consumption. That will help the money to rotate and enhance per capita income of citizens.”

Jain predicted that the government meeting its fiscal management targets would result in low inflation, facilitating start-ups in securing working capital loans at reasonable costs.

Commenting on the Digital Public Infrastructure (DPI) initiative, Jain told KNN about DPI’s potential to streamline operations, reduce pilferage, and improve efficiency.

He said, “Tasting the success of DPI in India will help wrapper innovations to plug into these digital platforms. Many start-ups are already working on integrating themselves with ONDC.”

Jain highlighted that the new digital infrastructure would facilitate seamless access to business and personal loans at reduced costs, providing a significant boost for start-ups.

Ashish Jain's positive outlook on the budget reflects the anticipation within the start-up community of increased opportunities for innovation and growth in the coming fiscal year.

(KNN Bureau)