PM Narendra Modi has launched action plan for ‘Start-up India, Stand-up India’ [ Current News (Concise) ]
The action plan for the ‘Start-up India, Stand-up India’ has been released by the PM Narendra Modi in New Delhi. This launch is aims to increase startup ventures in the country and give motivation to innovation and encourage the talent among young people and remove onerous government regulations and red tape.
Key features Start-up India, Stand-up India action plan
- It will be nontaxable for startup up to first 3 years and also no labour inspections for 3 years of launch of the venture.
- Compliance government based on self-certification for labour and environmental laws. And quicker exit policy for start-ups with 90 days.
- If money is invested in another start up then tax release to be provided on capital improvements.
- Government will Rs. 10, 000 crore quantity fund for development and growth of innovation driven enterprises.
- It will spend Rs. 2500 crore a year for four years Liberalized Fast-track mechanism for start-up patent applications under intellectual property rights protection with 80 % cost rebate.
- Cheering startups to participate in public gaining by easing norms of minimum turnover/experience.
- Mobile apps, portal will be available for register start-ups in a day from 1st April 2016.
- Establishing Credit guarantee fund and special scheme for women business executive.
- Government will start Atal Innovation Mission which will give an impetus to innovation and encouraging talent among young people by instituting national awards.
- Government will promote the provision of core innovation programmes in 5 lakh schools in the country.
- Published/Last Modified on: January 18, 2016