BUDGET TO BENEFIT THE PET CARE INDUSTRY: PETZZCO FOUNDER

Tax exemption, initiatives launched for startups may help pet sector bounce back

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The Indian middle class, which has sought tax reductions for the past eight years, has received a huge reprieve with the release of this year's budget. The government has significantly benefited the middle class by raising the tax exemption threshold from Rs five lakh to Rs seven lakh, says Raj Kantak, founder of Petzzco which is an Indian tech startup dedicated to responsible pet parenting. The news that there will be no tax on income up to Rs seven lakhs will provide the middle class with more money to spend. This is fantastic news for pet owners who will be able to spend more on their furry pals, engage in pet grooming, and might even consider adopting a stray animal, he adds.