Tech 3 | Economic Survey moots Ghar Wapsi for startups, why digital public goods are a goldmine and more
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Ahead of the crucial Union Budget on Wednesday, Finance Minister Nirmala Sitharaman tabled the annual Economic Survey in the Parliament earlier today.?
Why it matters: The annual report provides a comprehensive analysis of the state of India’s economy in the financial year that is set to close soon through various indicators.
This year's report is being presented at a time when India's economy is being hailed as a bright spot amid recessionary fears in advanced economies. It pegs India's GDP growth for the next fiscal 2023-24 in a broad range of 6-6.8 percent.
Here’s a quick rundown of all the key tech and startup highlights from the Economic Survey 2023.?
Ghar wapsi for Indian startups
Recently, many heads turned when it emerged that PhonePe’s shareholders would have to cough up around Rs 8,000 crore for shifting the company’s domicile back to India.
It seems the country’s top economic policymakers also took note.?
We say this because the Economic Survey speaks in-depth about ‘flipping’, a term used for shifting a company’s domicile to a foreign country
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Accelerating the reserve-flip
The report also suggested a few measures that could push Indian startups to shift their official headquarters back to the country:
‘Twas raining jobs
Amid a spate of startup layoffs, the Survey said that direct jobs in the country’s startups jumped 36 percent to 269,000 last year.
In other startup-related highlights…
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