*In welcome move for Indian startups, FM proposes one-person company without any restriction on paid-up limit and turnover.

"FM also proposed revising the definition of small companies by raising the capital base to Rs 2 crore from the current limit of Rs 50 lakh.

*The Budget 2021 also focussed on decriminalisation of limited liability partnerships, with the flexibility to convert a company to any form or LLP to benefit more than two lakh companies in easing the compliance requirements.

*FM Sitharaman also announced the encouragement of increasing the number of entrepreneurs in India by reducing the residency limit for any Indian to 120 days.

"Incorporation of 1 person company allowed without any restriction on paid up limit is a welcome move for startups as 2 directors were nec at a minimum and founders were forced to co opt others under the companies Act," said Dr Ajay Kummar Pandey, Sr. Advocate, 4C Supreme Law International.

*FM also announced the launch of data analytics, AI, ML driven MCA 3.0 version and an ecourt system to be implemented as a special framework for MSMEs.

*In a very significant move, margin money for stand up India was reduced from 25 to 15 percent.

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Dr Ajay Kummar Pandey Advocate & Consultant 4C Supreme Law International editor.kumar@gmail.com, advocate@ajaykr.com +91 98183 20572 www.drajaypandey.com www.4csupremelawint.com