What is Startup India Scheme:- This scheme has been start by the Government of India on 16 January 2016. The main objective of this scheme is to promote business and entrepreneurship. So that employment and jobs in the country will be promote. What is Startup India Scheme, The Startup India scheme aims to inspire different. Minded and adoptive youth to open their own business.
There are many benefits after getting register in the Startup India scheme. Due to which there is no difficulty in doing business. Under this scheme, small and big industries are further promote in India. This includes loan facility, conducive environment and proper guidance.
Summary of start-up action plan
With the objective of achieving the Start-up Plan, the Government of India has indicated its action plan or action plan. Which covers all the aspects of the Start-up Plan with the objective of achieving the Start-up Plan. Hopes to address these aspects and accelerate the spread of this movement.
It is a major initiative of the Government of India whose objective is to create. A strong ecosystem for startups and innovative ideas in the country. Which will lead to economic development of the country and generate employment opportunities on a large scale. Startup India is Standup India was announce by Prime Minister Narendra Modi. In his Independence Day 2015 speech.
This is an effective scheme by the Modi government to help the youth of the country. This initiative has been take by the Indian Prime Minister Narendra Modi to provide opportunities to. The youth to become industrialists and entrepreneurs, for which a start-up network needs to be establish. Start-up means to provide finance to the youth of the country through banks so that they can start. With better strength so that they can create more jobs in India.
Definition of Startup (Only for Government Schemes)
A startup is an entity, which has not been register in India for more than five years. And whose annual turnover does not exceed Rs 25 crore in any financial year. It is an entity that works towards innovation, development. Expansion or commercialization of new products. Or services driven by technology or intellectual property.
The entity should not have been form by fragmentation/reconstruction of a business already in existence. The unit will not be consider as a Startup if its turnover in the previous financial year. Is more than Rs.25 crores or it has completed 5 years from the date of formation. The startup will be eligible for tax benefits after obtaining the certificate from the Inter-Ministerial Board.
Support and Incentive Grants
Funding for Startups
The government will set up an initial fund of Rs 2500 crore per year. And a total fund of Rs 10,000 crore over a period of 4 years.
Credit Guarantee for Startups
To encourage banks and other lenders to provide venture loans to startups. The credit guarantee mechanism through National Credit Guarantee Trust Company (NCGTC) / SIDBI will make. A budget provision of Rs 500 crore per annum for the next four years. is being consider.
Tax exemption on capital gains
In order to encourage investment in Startups, the Government will provide capital gains. Exemption to those who have made capital gains during the year and who have invested. Such capital gains in Government recognized Fund of Funds.
Tax exemption for startups for three years
To address the working capital requirement of Startups in India. Encourage growth and provide them a competitive platform, profits of Startups. Will be exempt from tax for a period of 3 years.
Tax exemption on investment at fair market value
Investments made by incubators in startups will be exempt from tax.
Startup India Eligibility
Your industry should be a private limit company or a register partnership company or a limit liability partnership.
Your business should be working towards new ideas, development, improvement of products. Processes and services and it should be ideal business with high potential to generate employment or make money.
For those whose business is already in operation. It should not have been more than 7 years from the date of commencement. Of business and not more than 10 years from. The date of establishment/registration for introduction of Biotechnology.
Your turnover should not exceed Rs 25 crore in any year.
Your business must not have already formed an organization by splitting up or reorganizing a business.
Simplification and initial help
Self-certification based compliance regime The aim is to reduce the regulatory burden on startups. So that they can focus on their core business and keep the cost of compliance low. Regulatory systems would thus be more simple and flexible and oversight would be more meaningful and simple.
Startup India Hub To create a connecting point for the entire startup ecosystem to exchange knowledge and finance. The government will be the key stakeholder and will work closely with the central and state governments. Indian and foreign capitalists, angel networks, banks, incubators. Legal partners, consultants, universities and R&D institutions.
The roll out of the mobile application and portal will act. As an interactive platform for startups along with the government and regulatory institutions. It will be made available on all major mobile/smart device platforms from 1st April, 2016.
To promote IPR and create awareness and ensure sustainable growth and development of new startups. This scheme will ease the task of patent filing.
Startup India Hub
Relaxed norms for public procurement for startups The objective is to provide equal opportunities. To startups vis-a-vis experienced companies. In the case of tenders floated by the Government or PSUs. The Startups will be give relaxation in the criteria of ‘Experience/Turnover’ without relaxation in the quality norms.
Quick evacuation for startups. This action plan will provide ease for startups to shut down operations in the event of a failure. An insolvency professional will be provided for the startups who will be in charge of selling. The assets of the company to pay off the creditors in six months’ time. This process will adopt the concept of limited liability.
Views of Newspapers on Start Up India Scheme 2021?
News is the mirror of the country, so it is very important for us to know. What are the thoughts and suggestions of the major newspapers of the state regarding Startup India Yojana 2021. Which we want to present with the help of these points, which is, in this are in kind.
All the newspapers have prominently stated that, in the new startup policy. Women have been given major priority which can be shown with the help of these points.
After the above points, it can be said that the Modi government has. In fact, given priority to women in the Start Up India Scheme 2021 to promote women startups.
Taking inspiration from the Start Up India Scheme 2021, the Modi government has released. The Start Up India Scheme 2020 for skill empowerment of youth and especially women. Ending unemployment in the state. Which has emerged as many positive aspects such as.
In the Incubation Center, women will be provided with the facility of reservation of 25 seats so that. They can develop themselves and their families by becoming self-reliant with the help of this.