Budget 2021 | 'Budget needs to facilitate easy access to capital for businesses that are reeling from Covid-19 effects'

By Rajiv Kumar,

This has been an unprecedented year for businesses as well as humankind. So, we expect the government to focus on helping businesses cope with the challenges and effects of the pandemic.

Since offline businesses are hit badly and every business owner is planning to go online, we expect the policies that make it easy for businesses to go online and manage their online store and marketplaces. Not all businesses have resources to meet the tedious compliance requirements like GST or going with the paperwork needed for starting an online venture.

The government should ease rules and also offer support/exemptions to small and medium businesses from certain mandatory compliances. Overall the budget needs to facilitate easy access to capital for businesses that are reeling from after-effects of coronavirus. Apart from this, there should be some relief for businesses that have suffered significant losses during the lockdown and thereafter.

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(The author is the Founder & CEO of StoreHippo)