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Tag: MSMEs

  • Entrepreneurship: Crafting Success from Resilience and Vision

    An Exclusive Interview with Durvesh Yadav – Founder, Rising Star Communication, and Best-Selling Author

    Entrepreneurship is not merely about building businesses; it is a reflection of passion, perseverance, and the courage to tread uncharted paths. Durvesh Yadav, a visionary entrepreneur, best-selling author, and philanthropist, embodies these qualities. From founding Rising Star Communication to inspiring youth with his book What They Don’t Teach Us, Durvesh has set benchmarks in innovation and leadership.
    At Prittle Prattle News—meaning “featuring you virtuously”—we bring you an exclusive insight into his incredible journey, which inspires countless young minds to dream and achieve.

    1. Your entrepreneurial journey began at the age of 18. What inspired you to take such a bold step at such a young age, and how did you navigate the challenges of starting a business with limited resources?My journey started during my first year of engineering studies at Lovely Professional University. An internship at a five-star hotel exposed me to the disconnect between theoretical knowledge and practical work. Conversations with professionals revealed slow career growth, which led me to question the path I was on.
    Determined to build a meaningful career, I began learning new skills, focusing on networking and collaborating with like-minded individuals. One of the key turning points was meeting my first mentor, who guided me toward actionable strategies. Founding Rising Star Communication was the culmination of these efforts.

    2. Rising Star Communication has worked with over 300 brands. Can you share insights into your approach to understanding diverse client needs and crafting tailored marketing strategies that consistently deliver results?
    Every brand has unique goals. For instance, some prioritize organic growth, while others seek rapid traction through paid media. At Rising Star Communication, we balance promotional campaigns with value-driven, informational content.
    Continuous learning plays a key role. By staying updated with industry trends and conducting competition research, we ensure that our strategies align with evolving consumer expectations. For example, we’ve successfully implemented campaigns for MSMEs, helping them scale operations and reach wider audiences.

    3. What They Don’t Teach Us has become a best-seller and an inspiration for many. What was your thought process behind writing this book, and how do you believe it fills the gaps in traditional education for young minds?
    The inspiration for What They Don’t Teach Us came from my own experiences. The book begins with the story of an old man’s regret—a reflection of unfulfilled dreams. This story deeply resonated with me and solidified my resolve to encourage youth to chase their aspirations. Traditional education often emphasizes survival rather than thriving. My book addresses these gaps by focusing on mental health, the power of self-belief, and actionable strategies for achieving success. It also tackles the stigma around dreaming big in middle-class India, offering practical advice to overcome societal pressures.

    4. With recognitions like the Bharat Youth Award and Tradeflock’s 40 under 40, how do these milestones shape your vision for the future? What further contributions do you aspire to make in entrepreneurship and social upliftment?
    Being honored with the Bharat Youth Award and included in Tradeflock’s 40 Under 40 category is both humbling and motivating. These accolades reinforce my belief in the transformative power of entrepreneurship. I aim to empower MSMEs by offering marketing and sales solutions that address common challenges like resource scarcity. My work with the Rising Star Youth Foundation is also focused on bridging gaps in education and providing mentorship to underprivileged youth

    Entrepreneurship: Crafting Success from Resilience and Vision
    An Exclusive Interview with Durvesh Yadav – Founder, Rising Star Communication, and Best-Selling Author of What They Don’t Teach Us
    Conclusion: Empowering the Next Generation
    Durvesh Yadav’s journey—from a young entrepreneur to a best-selling author and philanthropist—epitomizes the spirit of innovation and resilience. By addressing gaps in education and creating impactful business strategies, he has empowered both individuals and communities.
    This interview, proudly presented by Prittle Prattle News, highlights the importance of sustainability in every aspect of life. Led by Smruti Bhalerao, the platform is committed to driving impactful conversations and inspiring change.
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  • Technological and Startup Ecosystem in Budget 2024-2025

    How Budget 2024-2025 Supports Innovation and Growth

    The Union Budget 2024-2025, presented by Finance Minister Nirmala Sitharaman, has laid out a comprehensive framework to bolster technological innovation and support the startup ecosystem in India. The budget introduces several key initiatives aimed at reducing tax burdens, simplifying compliance, and fostering an environment conducive to innovation and growth.

    Dilip Chenoy, Chairperson, Bharat Web3 Association

    “The nine focus areas of budget 2024 are key steps towards our goal of Viksit Bharat. The budget also lays out a clear framework for digitisation of various sectors, where Web3 technology could play a critical role. We were hoping for some relaxation to the taxation framework on VDAs in this budget, but the absence of any announcement is not particularly disheartening, given the Govt’s overall negative stance towards the sector.

    We have submitted data-backed quantitative analyses regarding the flight of users’ trading and transactions, as well as the potential increase in government revenue should the taxation structure be revised. We will continue to push for rationalization of the taxation framework, which includes reducing the TDS to 0.01%, allowing setoff of losses on VDA transactions and modifying the 30% tax on capital gains. We are hopeful that the government will consider our requests and that we will see changes in the future. On the positive, abolishing the angel tax for all classes of investors will work towards bolstering the Indian startup ecosystem. We look forward to more Web3 startups setting base in India, given India’s immense Web3 talent and potential. Finally, the impetus provided to blockchain skilling and talent development in the Economic Survey can empower youth for the exciting opportunities in Web3 and contribute to a skilled ecosystem for Web3 adoption.”

    Shivam Thakral, CEO of BuyUcoin, India’s second-longest running digital asset exchange
    “We welcome the positive announcements made by the honorable finance minister in today’s budget. However, the demands of the Web3 sector were not met and we will continue our constructive dialogue with the regulators to address the industry concerns. Here is our analysis of the Union Budget 2024: Angel tax abolished: India’s startup ecosystem received a big boost in today’s budget as the angel tax is abolished for all classes of investors.
    This move will be a gamechanger for startups planning to raise funds for their expansion as it will give startups more surplus funds to invest in product innovation and technology development to implement their long-term vision for the industry. The move will encourage a lot of innovators to start their entrepreneurial journey and VCs will find it more convenient to invest in early-stage startups. With deep-tech, blockchain and emerging technologies in focus. VCs will be keen to bet on innovative technologies to facilitate the transition from Web2 to Web3. TDS on VDAs untouched: However, Web3 as a sector was slightly ignored in the budget as the request to reduce the TDS on VDA transactions was not accommodated in the budget announcement. The delay in reducing the TDS will hamper the industry growth prospects as digital assets will not have a level playing field with other asset classes like stocks, gold and real estate. Higher tax and not allowed to offset gains: The high tax on gains from VDAs still stands at 30% which is relatively very high and the users are not allowed to offset losses like stocks. This move will prove to be detrimental for the web3 industry as it deprives the industry from a level playing field.
    Emerging tech in focus: In an encouraging move, the government highlighted the importance of technologies like blockchain and artificial intelligence. Government is actively involved in leveraging the potential of blockchain and AI for better governance and enhanced delivery of citizen schemes. At the same time, the economic survey also talks about the threats and challenges associated with Artificial Intelligence. The deep-fake incidents that occurred recently calls for a responsible use of emerging technologies through constructive collaboration between government and private players.”
    Mr. Kartik Chhaya, Chief Operating Officer, Rupeeseed
    “We welcome the Union Budget 2024’s forward-thinking approach, particularly the reduction in corporate tax rates for foreign companies and the simplification of FDI rules. These measures will enhance India’s attractiveness as a global tech hub. The focus on employment-linked skilling and the support for MSMEs, including the credit guarantee scheme, align well with our mission at Rupeeseed to drive innovation and growth in the fintech sector. Additionally, the emphasis on developing DPI applications and improving IBC outcomes will streamline processes and foster a more efficient financial ecosystem. Notably, the Budget’s move to address Angel Tax concerns for startup entrepreneurs is a significant step forward. By providing clarity and relief in this area, the government is helping to create a more supportive environment for startups, which is crucial for fostering innovation and attracting investment. Overall, this budget sets a robust foundation for technological advancement and economic growth, which augurs well for businesses.”
    Mr. Abhinav Jain, Co-Founder & CEO, Almonds AI
    “The Union Budget 2024 has delivered a landmark decision for India’s startup ecosystem. The abolition of angel tax for all investor classes is a game-changing move that signals the government’s unwavering commitment to nurturing our nation’s innovative spirit. This pivotal reform will inject much-needed momentum into our startup landscape, which has faced headwinds recently. By removing this significant barrier to investment, the Budget 2024 is not just opening doors – it’s constructing highways for capital to flow into groundbreaking ideas. This bold step, building upon previous initiatives like the Startup India program, positions India to regain its growth trajectory in the startup space. The Union Budget 2024 sends a clear message: India is not only open for business but is actively cultivating the next wave of entrepreneurs who will propel our economy forward.”
    Mr. Utkarsh Gupta, Managing Director- Ramagya Group:
    “Finance Minister Nirmala Sitharaman’s latest budget sets forth an ambitious plan to empower 41 million youth over the next five years with a central outlay of ₹2 lakh crore. This includes significant allocations for education, skilling, and employment, which are critical areas for India’s growth. The government’s decision to provide financial support for higher education loans up to ₹10 lakh will make quality education more accessible, ensuring that students from all backgrounds have the opportunity to succeed. The focus on upgrading 1,000 Industrial Training Institutes (ITIs) and aligning their curriculum with industry needs will bridge the gap between academic learning and market requirements. At Ramagya Group, we are excited about these developments and are committed to supporting the government’s vision for a skilled and educated India.”
    Conclusion:
    The Budget 2024-2025 provides a significant boost to the technological and startup ecosystem in India. By addressing key concerns like angel tax and simplifying compliance, the government is fostering an environment that encourages innovation and investment. As industry leaders express their optimism, it is evident that these measures will pave the way for sustained growth and technological advancement in the country.
    The article was curated by Prittle Prattle News as an industry story feature.
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  • Union Budget 2024-2025: A Comprehensive Boost to Housing and Urban Development

    Industry Leaders Commend Budget’s Focus on Affordable Housing, Job Creation, and Infrastructure

    The Union Budget 2024-2025, presented by Finance Minister Nirmala Sitharaman, has garnered significant attention for its multifaceted approach to urban development, job creation, and economic growth. The budget emphasizes the government’s commitment to making housing more affordable, enhancing infrastructure, and supporting key sectors through strategic investments and policy reforms. Industry leaders from various sectors have praised the budget’s initiatives, highlighting its potential to drive economic prosperity and improve the quality of life for millions of Indians.

    Mr. Prashant Sharma, President, NAREDCO Maharashtra, commented, “We commend the Union Budget 2024-25 for its comprehensive approach towards job creation and boosting consumption, which are positive developments for the real estate sector. The Finance Minister’s announcement of a PM Package with five schemes focused on employment and skilling, with an allocation of Rs 2 lakh crore, and a significant provision of Rs 1.48 lakh crore for education, employment, and skilling, is a welcome move. These initiatives will undoubtedly create a ripple effect, enhancing the economic landscape and increasing demand for residential and commercial properties.”

    Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Vice President, CREDAI-MCHI, shared his insights, “We wholeheartedly welcome the Finance Minister Nirmala Sitharaman Union budget 2024-25 which reflects market expectations, promoting an atmosphere conducive to economic growth. The budget emphasizes the needs and aspirations of the Garib, Mahilayen, Yuva, and Annadata, highlighting the government’s primary priorities, and we applaud the government for the same. Keeping Viksit Bharat in mind, the Finance Minister mentioned urban development and infrastructure among some of the key focus areas of the government. An outlay of 10 lac crore for urban housing under PM Awaas Yojana is a welcome move as it will give a significant boost in providing housing across major cities in the country. With a huge shift in the population moving from rural to urban areas, this move will immensely benefit in providing a roof over the head of our urban population.”

    Mr. Vedanshu Kedia, Director, Prescon Group, remarked, “We are pleased with Finance Minister Nirmala Sitharaman’s budget for 2024-25, which addresses the aspirations and needs of both urban and rural India. Key focuses include urban development and infrastructure under Viksit Bharat. The budget includes a reduction in stamp duty for women buying houses to encourage their participation in property ownership. States with high stamp duty rates have been encouraged to moderate them, with further reductions considered for properties bought by women. The increase of LTCG (Long-Term Capital Gains) for equities will have a spillover effect as money will now start chasing property investments that provide more stable returns. The provision for central government assistance to state governments who are focusing on infrastructure development will bore well for the real estate industry.”

    Mr. Rohan Khatau, Director, CCI Projects Private Limited, commented, “This was a good budget for the real estate sector presented by the Finance Minister Nirmala Sitharaman which echoed the sentiments of the industry and home buyers. The government’s 2.2 lakh crore initiative under the PM Awas Yojana-Urban, aims to enhance housing affordability for one crore families, reflecting a sincere commitment to inclusive urban growth over the next five years.”

    Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers, noted, “The Union Budget 2024-25 announced by Finance Minister Nirmala Sitharaman is a promising step towards holistic development, with a keen focus on employment, skilling, and infrastructure, which are crucial for the real estate sector. The emphasis on women-led development, with an allocation of more than Rs 3 lakh crore for schemes benefiting women and girls, reflects a progressive vision for inclusive growth. The encouragement for states to moderate high stamp duty rates and the proposed reductions for properties purchased by women are commendable. These measures will not only make property transactions more affordable but also promote gender inclusivity in property ownership.”

    Mr. Samyak Jain, Director, Siddha Group, appreciated the government’s focus on housing affordability, “The government’s interest subsidy scheme for urban housing is a positive step towards making home ownership more accessible. The PM Awaas Yojana for one crore poor and middle-class families with central assistance of 5 years will not only push the real estate market but also stimulate all other industries which are indirectly co-related with the real estate market.”

    Mr. Himanshu Jain, VP – Sales, Marketing & CRM, Satellite Developers Private Limited (SDPL), emphasized the budget’s positive impact on the sector, “The Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, reflects the Modi government’s focus on youth and its commitment to job creation and boosting consumption, which are positive developments for the real estate sector. The significant push of ₹2.2 lakh crore under the PM Awas Yojana-Urban to make housing more affordable is a commendable initiative that will cater to the housing needs of one crore poor and middle-class families. This substantial investment of ₹10 lakh crore over the next five years is expected to stimulate demand and drive growth in the real estate market.”

    Impact on the Urban Housing Sector

    “We look forward to welcoming the points on the urban housing sector from FM Shrimati Nirmala Sitharaman’s first Union Budget 2024-2025 of Modi 3.1. We appreciate the steps taken by this year’s Union Budget 2024-2025 in the housing market. Listed as Priority 5, FM Sitharaman spoke on services for 100 large cities for urban development. In addition, the government has allotted ten lakh crore rupees for one crore houses for the urban poor. These are advanced and modern policies for ensuring that all people have adequate shelter, a basic need of human life.

    The government has also slashed stamp duty for women, which will now empower more women to become homeowners, giving them freedom and power to take control of their own lives. This reflects the third pillar of the Viksit Bharat scheme, with power being given to Mahila (women) for all-encompassing equitable development.”
    — Mr. Prashant Sharma, President, NAREDCO Maharashtra

    Empowering Women and Advancing Urban Housing

    “We look forward to welcoming the points on the urban housing sector from FM Shrimati Nirmala Sitharaman’s first Union Budget 2024-2025 of Modi 3.1. We appreciate the steps taken by this year’s Union Budget 2024-2025 in the housing market. Listed as Priority 5, FM Sitharaman spoke on services for 100 large cities for urban development. In addition, the government has allotted ten lakh crore rupees for one crore houses for the urban poor. These are advanced and modern policies for ensuring that all people have adequate shelter, a basic need of human life.

    The government has also slashed stamp duty for women, which will now empower more women to become homeowners, giving them freedom and power to take control of their own lives. This reflects the third pillar of the Viksit Bharat scheme, with power being given to Mahila (women) for all-encompassing equitable development.”
    — Mr. Dhaval Barot, MD & CEO of Bharat Realty Venture Pvt Ltd

    Job Creation and Economic Boost

    “We commend the Union Budget 2024-25 for its comprehensive approach towards job creation and boosting consumption, which are positive developments for the real estate sector. The Finance Minister’s announcement of a PM Package with five schemes focused on employment and skilling, with an allocation of Rs 2 lakh crore, and a significant provision of Rs 1.48 lakh crore for education, employment, and skilling, is a welcome move. These initiatives will undoubtedly create a ripple effect, enhancing the economic landscape and increasing demand for residential and commercial properties.

    The government’s commitment to making housing more affordable, with a Rs 2.2 lakh crore push under the PM Awas Yojana-Urban, is a significant step forward. Addressing the housing needs of one crore poor and middle-class families with an investment of ₹10 lakh crore, including central assistance of ₹2.2 lakh crore over the next five years, reflects a robust and inclusive approach to urban development.

    The proposal to encourage states to moderate high stamp duty rates and consider further reductions for properties purchased by women is a progressive measure. Incorporating these as essential components of urban development schemes will promote greater inclusivity and accessibility in the housing market.

    The GST reforms, which have eased compliance and reduced tax burdens, have been instrumental in driving economic growth. The proposed rationalization of the tax structure, coupled with the new tax regime changes, including the increased standard deduction, will further benefit the salaried class and boost disposable income, positively impacting housing demand.

    The sanctioning of 12 industrial parks under the National Industrial Corridor Development Programme, the facilitation of rental housing with dormitory-type accommodation for industrial workers in PPP mode, and the formulation of transit-oriented development programmes for 14 large cities are strategic moves that will enhance urban infrastructure and support industrial growth.

    With significant infrastructure investments continuing over the next five years, including a provision of ₹11,11,111 crore for capex, we anticipate a multiplier effect that will drive private investment in infrastructure. The introduction of a market-based financing framework and simplified rules for Foreign Direct Investments will further facilitate economic growth and stability.

    Overall, the Union Budget 2024-25 is a forward-looking and balanced approach towards Viksit Bharat that addresses key areas of employment, housing, urban development, and economic growth. We at NAREDCO Maharashtra look forward to the positive impact these measures will have on the real estate sector and the overall economy.”
    — Mr. Prashant Sharma, President, NAREDCO Maharashtra

    Aaditya Sharda, Co-founder, Infra.Market

    “The Union Budget 2024-25 emphasizes infrastructure and urban development, offering significant opportunities for startups and construction companies through increased capital spending and support for state and private investments. Initiatives like ‘Cities as Growth Hubs’ pave the way for startups to innovate and contribute to India’s growth. The abolishment of the Angel tax for all investors will strengthen the startup ecosystem, boost entrepreneurship, and spur innovation across sectors. The budget’s overall direction sets a positive tone, and government initiatives to support MSMEs, including a credit guarantee scheme and a digital footprint-based credit assessment model, align with efforts to enhance infrastructure development and urban growth. At Infra.Market, we look forward to leveraging these opportunities to drive innovation in urban development and contribute to India’s transformative journey.”

    Support for Economic Growth and Inclusivity

    “We wholeheartedly welcome the Finance Minister Nirmala Sitharaman Union budget 2024-25 which reflects market expectations, promoting an atmosphere conducive to economic growth.

    The budget emphasizes the needs and aspirations of the Garib, Mahilayen, Yuva, and Annadata, highlighting the government’s primary priorities, and we applaud the government for the same. Keeping Viksit Bharat in mind, the Finance Minister mentioned urban development and infrastructure among some of the key focus areas of the government.

    An outlay of 10 lac crore for urban housing under PM Awaas Yojana is a welcome move as it will give a significant boost in providing housing across major cities in the country. With a huge shift in the population moving from rural to urban areas, this move will immensely benefit in providing a roof over the head of our urban population. The government has announced a Rs 2.2 lakh crore initiative to enhance housing affordability: Through the PM Awas Yojana-Urban, the housing requirements of one crore economically disadvantaged and middle-class families will be met, supported by an investment of ₹10 lakh crore. This comprehensive plan includes ₹2.2 lakh crore in central assistance over the next five years.

    The 2.66 lac crore allocation for rural development and infrastructure will benefit people in rural India to become self reliant and uplift their living standards. This will discourage them from moving into urban areas and encourage overall development of the country.

    Rental housing with dormitory type accommodation for industrial workers has been proposed under the PPP model. This is a step in the right direction, as it will provide affordable housing options for the industrial workers, who are at the bottom of the housing pyramid.

    The Finance Minister stated that stamp duty for women buying a house has been lowered. This will encourage women to come forward and empower them in the home buying process.

    The Finance Minister highlighted ongoing significant infrastructure investments, set to continue over the next five years. This year, ₹11,11,111 crore has been allocated for capital expenditure, amounting to 3.4% of GDP. States will be encouraged to match this scale of support based on their priorities. Private investment in infrastructure will be encouraged through Viability Gap Funding and a new market-based financing framework.

    The Union Budget 2024-25 embodies a progressive strategy aimed at addressing crucial sectors while propelling the nation towards a more sustainable and promising future.”
    — Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Vice President, CREDAI-MCHI

    AltGraaf Jayaprakash, K, Chief Growth Officer, AI Growth Limited (Parent company of altGraaf):
    “We are delighted by the abolition of angel tax. This will boost investments in the startup ecosystem and create jobs. The government’s move towards parity in taxation between financial and non-financial assets, coupled with credit boosts to the MSME sector and corporate tax rate reductions, promotes job and economic growth.”
    Ravi Kaushik, Executive Director, Head of Asia Investments, Flourish Ventures:
    “This is a very progressive step in the right direction by the finance minister. This will not only open up opportunities for startups to freely raise capital from India’s thriving middle class but also significantly reduce disputes and tax uncertainties. We wholeheartedly welcome this step.”
    Mr. Prem Kumar Vislawath – CEO and Founder, Marut Drones:
    “The allocation of ₹1.52 lakh crore for agriculture and allied sectors by the finance minister underscores a pivotal commitment to bolstering India’s agricultural resilience. The emphasis on developing climate-resistant varieties and introducing 109 new high-yielding varieties is a forward-looking stride towards sustainable agriculture. Exempting lithium imports from customs is a bold step demonstrating India’s commitment to strengthening the drone manufacturing sector.”
    Mr. Ankit Gupta, Director, Ledure Lightings:
    “By prioritizing the manufacturing sector and introducing a scheme that supports first-time employees through EPFO contributions, the government is not only addressing immediate employment needs but also laying a strong foundation for long-term growth. The allocation of ₹1.48 lakh crore for education, employment, and skilling further emphasizes the government’s dedication to these critical areas.”
    Ms. Sanjana Desai, Executive Director, Mother’s Recipe:
    “The proposal to abolish the angel tax for all classes of investors will significantly bolster the entrepreneurial spirit and support innovation within our industry. Additionally, the increase in the standard deduction for salaried employees will enhance consumer purchasing power, which is beneficial for our brand as it may lead to increased demand for our products.”
    The Union Budget 2024-2025 sets a promising trajectory for India’s urban development and economic growth. By addressing the critical needs of housing, infrastructure, and job creation, the budget lays a solid foundation for a more inclusive and prosperous future. The positive reception from industry experts underscores the budget’s potential to transform key sectors and uplift the socio-economic landscape of the nation. As the government rolls out these initiatives, the collaborative efforts of various stakeholders will be crucial in realizing the vision of a ‘Viksit Bharat.’
    The article was curated by Prittle Prattle News as an industry story feature.
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