No permissions, no angel tax: Rahul makes his business pitch for elections

TIL Desk/National/New Delhi/ Congress president Rahul Gandhi on Thursday said his party will free new businesses of regulatory permissions for the first three years and scrap a controversial tax on start-ups if it’s voted to power. “Don’t bother about anything—there is no permission you need. Start your business, get to work,” he said in an interview.

Gandhi two days ago promised to give cash handouts to India’s poorest families if voted to power, seeking to energise his campaign against Prime Minister Narendra Modi’s BJP in Lok Sabha elections that start on April 11.

“For the first three years of setting up a new business, we are going to free you up from red tape. You will not need to ask for permission for anything,” said Gandhi. He promised to scrap the “draconian and ill-conceived” angel tax, which is levied on investment in start-ups at a maximum rate of 30 per cent. “I’ve made that commitment and it’s going to be done.”