Angel tax abolishment a big boost for the startup world – Shashank Avadhani Co-founder & CEO, Alyve Health

Alyve Health welcomes the government’s decision to abolish the angel tax in the Union Budget 2024-25. This forward-thinking move will unlock significant growth potential for startups across India. By removing this financial barrier, the government has demonstrated its commitment to encouraging innovation and supporting entrepreneurs. We believe this policy change will attract more investments into early stage companies .

The budget for FY24-25 exempts three more cancer medicines from customs duty which will bring down the cost of treatment significantly. The healthcare sector is to get a ₹89,287 crore budget allocation in 2024–25, up from ₹88,956 crore in 2024-25 which will enhance healthcare infrastructure in our country.

In the Economic Survey, the government has focused on the future of AI, and deep-tech startups to create opportunities for deploying AI and other cutting-edge technology in the healthcare sector. This move will encourage investments in the broader deep tech space and specifically in the health tech sector.

Alyve Health remains committed to India’s healthcare mission and we will work aggressively to achieve the aim of ‘Viksit Bharat’ by enabling better healthcare delivery through advanced technology.