“The Finance Minister has rightly described innovation as the foundation of development and showcased its commitment to fulfilling the aspirations of the youth. The announcement to establish a corpus of Rs. 1 lakh crore to provide financing with long tenors and low or nil interest rates will encourage the private sector to scale up research and innovation in sunrise domains. This augurs well for startups and young innovators. The announcement to extend tax benefits to startups and investments by sovereign wealth or pension funds by a year will provide continuity in taxation.”