Kunal Bahl, co-founder and CEO Snapdeal.comThe budget presented this year is positive and forward-looking. It has a mix of both short to medium and medium to long-term measures that is bound to boost the overall industry and investor sentiment. The road map is well laid for reviving growth towards 8% trajectory. As expected, 'Make in India' was the flavour and it was heartening to see the government recognise the value of the impact being created by start-ups like ours.

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Being mindful of the brain drain happening from India due to the innate complexities involved in setting and scaling up new businesses, the government's proposal to stem this and build a more conducive environment through various incubation initiatives and innovation funds is a welcome step. This will have an immediate as well as long-term impact on the government's 'Make in India' focus.

Implementation of Goods and Services Tax (GST) was one of the first areas discussed on Friday. The asymmetric tax regimes followed by the states is one of the biggest challenges for companies like ours as it impedes the growth of the e-commerce industry in India. The government's promise of bringing GST into play by April 1 next year will be a game changer as it allows friction-free trade between states and simplifies the tax liabilities for small businesses that are using the online sales channel. The budget also lays down steps towards increasing efficiency of digital economy in India.

For an emerging and high-growth industry like e-commerce, indigenous technology development and talent pool availability are critical growth drivers. In this sense, the announcement of innovation fund and skill promotion initiatives is a welcome step towards maximizing the potential of internet driven businesses like ours.

For instance, e-commerce in India has the potential to generate 10 million jobs in the coming three years and this contribution alone can propel the economy towards a double-digit growth. However, the positive intent of the budget notwithstanding, the government has to ensure the on-ground implementation of these announcements and build in a framework of measurable metrics to continuously monitor and augment the policy.