Start-up India movement Launched


PM Narendra Modi on January 16, 2016 launched the 'Start-Up India' movement by unveiling the action plan aimed at boosting entrepreneurship and jobs at the grassroots level.


- A separate fund will be created with 10000 crore rupees corpus for development and growth of innovation driven enterprises. It will be 2500 crore rupees a year for four years.

-No inspection for 3 years of start-up businesses in respect of labour, environment law compliance post self-certification.

-Start-ups will be exempted from paying income tax on their income for the first 3 years.

- Government to start the Atal Innovation Mission to give an impetus to innovation and encourage the talent among our people.

- Under the mission, 35 new incubators, 7 new research parks, 31 innovation centres will be set up at the premier technology institutes under the public private partnership mode.

- 500 sector specific incubators, including 5 new Bio clusters will be established across the country.

- An innovation programme will be launched in 5 lakh schools across the country to nurture innovation among 10 lakh children.

- There will be a moratorium on labour inspections for the first 3 years of operations.

- Capital gains tax to be exempted for venture capital investments. However, the exemption will be applicable only when only when the proceeds are invested in another startup.

- New scheme will be launched to provide Intellectual Property Rights protection to start-ups and new firms.

- Liberalised Fast-track mechanism will be evolved to process startup patent applications under IPR protection with 80 percent reduction in registration fee.

- Self-certification based compliance regime will be followed in relation to labour and environmental laws.

- A new mobile app to enable start-ups to register themselves within a day and a portal to apply for clearances online will be operation from 1 April 2016.

- Easier exits for failed ventures with a provision for winding them up within 90 days under the Bankruptcy and Insolvency Bill, 2015.

Start up does not mean billion dollar company where thousands of people work. It is about employing even 5 people & developing India. Make in India means 'Make for India.' India is a great market.

This start up movement is not merely guided by money or name & fame. The purpose is beyond that. There is an energy from within and there are dreams that Indians dedicated themselves to. Success of start ups not only about enterprise. It is risk taking and adventure also.

Monday, 18th Jan 2016, 03:04:49 AM

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