 "Tech leaders and VCs cheer #SuperBudget2015 on Twitter")
Corporate leaders, especially technology sector were in cheerful mode and took to micro-blogging portal Twitter to share their observations on the Union Budget for FY16, which was presented by Finance Minister Arun Jaitley earlier today.
Among the frontrunners to express her views on the platform was biotech-major Biocon's CMD Kiran Majumdar-Shaw. "#FinanceMinister announces bankruptcy law/code in 2015-16 under ease of doing business - important law overdue and long needed", she said.
Another prompt tweeter was Infosys co-founder Kris Gopalakrishnan who wrote on his twitter handle: "Govt is establishing a mechanism 'self employment' to support all aspects of start up business: Appreciate!".
A majority of tweeples working in start-up sector were also prompt in welcoming the Rs 1,000-crore allocation made towards developing the sector. Rajesh Sawhney, founder, GSF Accelerator, tweeted: "Rs 1,000 cr this time, mostly vaguely put. 10x reduction in size, 10x chances of actually doing it."
Anxiety over how effectively the fund will be utilised this time remained prominent. Rehan Yar Khan, managing partner, Orios Venture Partners: "Lets hope this times Rs 1,000-cr startup fund materialises unlike last years Rs 10,000-cr startup fund."
One area where start-ups was expecting a relief was in process of starting businesses in India. Often the process of registering a start-up becomes an uphill task for them. However, with the Budget nearly turning a blind eye towards this, young entrepreneurs and investors were not reluctant to hide it. For instance, Mahesh Murthy, an angel Investor, wrote on Twitter: "The budget is turning out like typical Indian men in bed. All promises of action, then no action."