Pre-Budget by Ketan Munoth, co-founder of Plush
As the founder of a young startup, I see the Union Budget 2025 as an important opportunity to support MSMEs, which are key drivers of India’s economy. Beyond funding and financial incentives, what we truly need is a streamlined regulatory framework that simplifies clearances and processes, saving valuable time and resources for businesses like ours.
The current regulatory landscape, while improving, can still be challenging for startups navigating compliance, licenses, and approvals. Simplifying these processes, creating single-window clearance systems, and offering sector-specific guidelines would significantly reduce operational roadblocks and allow businesses to focus on innovation and growth.
Support for R&D in sectors like personal care and hygiene, where innovation is key, would provide a competitive edge for businesses catering to evolving consumer needs. While we seek to improve menstrual health for all menstruators, support, and resources in R&D to enhance and upgrade are key for startups like us.
The Union Budget has the potential to enable MSMEs to scale operations, contribute to economic growth, and generate employment. A clear focus on simplifying processes and improving ease of doing business will not only benefit MSMEs but also strengthen India’s position as a hub for entrepreneurial success.
Pre-Budget by Yousuf Rangoonwala, Founder Kakkoii Entertainment Pvt. Ltd
The advertising and creative industries in India are facing significant challenges due to high taxation, particularly the Goods and Services Tax (GST), which is among the highest in developing nations. This, along with poor economic performance, has led to reduced marketing budgets and a decline in consumer purchasing power. India’s GDP is at its lowest in 21 years, and the FMCG sector, a key indicator of consumer spending, is struggling. This reflects the financial pressures many people are facing, with purchasing power limited outside the wealthiest 200 million. The government needs to reassess its fiscal policies to stimulate economic growth. As we look ahead to the Union Budget 2025, there is a clear demand for lowering both direct and indirect taxes, creating more employment opportunities for lower-income groups, restoring investor confidence by addressing bureaucracy and high taxes, and easing compliance burdens for businesses. These steps are essential not just for the advertising sector but for the broader economy to recover and grow.
Pre-Budget by Tuhin Arya, Co-founder & Chief Creative of Bandstand Media
The spending power that consumers have right now is directly linked to the advertising industry. The more a consumer consumes a good or service, the better the chances that a specific brand will increase its advertising budget every year. This means the advertising industry gets its share. However, in recent developments, we’ve seen that many taxations have come into effect, which are, in one way or another, hampering the buying power that consumers have. This is a threat, and I would like to see it addressed in this Union Budget. The taxation the public is facing right now should be looked into, especially considering that millennials, who are spending most of their money on goods and services, are also burdened with taxes, EMIs, and rising interest rates. This is an area I would want the Union Budget to focus on.
As for the overall perspective, while the government is doing enough for startups and funds, I believe more funds should be allocated to startups to encourage more people to embark on their entrepreneurial journey. This would also benefit the advertising industry. At the same time, there should be some relaxations or tax cuts for the advertising industry. The advertising sector is often neglected, and startups aren’t truly considered startups in this industry. Any special rebates or tax cuts the government can provide for this industry would be extremely beneficial.