All about Pradhan Mantri yojana and other government schemes in India.

2016-02-08

Startup India Campaign

स्टार्ट-अप इण्डिया अभियान Start-Up India Campaign
The Prime Minister, Shri Narendra Modi launched the Start-up India initiative on 16th January, 2016 in New Delhi.

Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage start ups with jobs creation. The campaign was first announced by the Prime Minister in his 15th August, address from the Red Fort. It is focused on to restrict role of States in policy domain and to get rid of “license raj” and hindrances like in land permissions, foreign investment proposal, environmental clearances. It was organized by Department of Industrial Policy and Promotion (DIPP). A startup is an entity that is headquartered in India which was opened less than five years ago and have an annual turnover less than ₹25 crore (US$3.7 million). The government has already launched PMMY, the MUDRA Bank, a new institution set up for development and refinancing activities relating to micro units with a refinance Fund of ₹200 billion.

Salient Points

Single Window Clearance even with the help of a mobile application
10,000 crore fund of funds
80% reduction in patent registration fee
Modified and more friendly Bankruptcy Code to ensure 90-day exit window
Freedom from mystifying inspections for 3 years
Freedom from Capital Gain Tax for 3 years
Freedom from tax in profits for 3 years
Eliminating red tape
Self-certification compliance
Innovation hub under Atal Innovation Mission
Starting with 5 lakh schools to target 10 lakh children for innovation programme
New schemes to provide IPR protection to start-ups and new firms
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