The government under the leadership of PM Narendra Modi has started and promoted Startup India. To promote growth and help Indian economy, many benefits are being given to entrepreneurs establishing startups. Government of India has launched a mobile app and a website for easy registration for startups.
Key points
- Single Window Clearance even with the help of a mobile
application - 10,000 crore fund of funds
- 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
- 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
- encourage entrepreneurship.
- Stand India across the world as a start-up hub.
To promote growth and help Indian economy, many benefits are being given to entrepreneurs establishing startups. Government has proposed to hold 2 startup fests annually both nationally and internationally to enable the various stakeholders of a startup to meet. This will provide huge networking opportunities.