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Budget 2021:Incorporation of OPCs, a move that will benefit startups and innovators.

Photo Creditors - Reuters



Finance Minister Nirmala Sitharaman said the incorporation of OPCs would be encouraged by allowing such companies "to grow without restriction on paid up capital and turnover, allowing conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days, and allow also non-resident Indians to incorporate OPCs in India"


"This will be a big boost for startups," she said while presenting the first paperless Union Budget .

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