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START UP INDIA by Lakshay

The document discusses the Startup India initiative launched by the Indian government. It aims to support entrepreneurs and startups in India by providing funding, tax exemptions, patent protection, and other benefits. Key aspects include setting up a Rs. 10,000 crore fund, allowing self-certification for regulatory compliances, launching a mobile app for easy registration, and exempting startups from income tax for three years. The goal is to boost entrepreneurship and help startups grow, thereby strengthening the Indian economy.

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Lakshay
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58 views

START UP INDIA by Lakshay

The document discusses the Startup India initiative launched by the Indian government. It aims to support entrepreneurs and startups in India by providing funding, tax exemptions, patent protection, and other benefits. Key aspects include setting up a Rs. 10,000 crore fund, allowing self-certification for regulatory compliances, launching a mobile app for easy registration, and exempting startups from income tax for three years. The goal is to boost entrepreneurship and help startups grow, thereby strengthening the Indian economy.

Uploaded by

Lakshay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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START UP INDIA

BY: LAKSHAY
BBA 2 SEM
INTRODUCTION
• Startup India is a revolution scheme that has been started to help the people,
who want to start their own business.
• These people have ideas and capability so government will give them support
to make sure they can implement their idea & grow.
• The campaign was first announce4d by prime minister Modi in his 15 august
2015 address from Red Fort.
• Success of this scheme will eventually make India, a better economy and a
strong nation.
STARTUP
• A Startup is an organisation
dedicated to creating something
new under conditions of extreme
uncertainty .
A Startup usually involves
innovation, offering a new concept
or something that is not widely
available.
What is Startup India Scheme
• “ Start Up India Is a revolutionary scheme that has been started to help the
people who wish to start their own business. These people have ideas &
capabilities , so the Government will give them support to make sure they
can implement their ideas and grow. Success of this scheme will
eventually make India a better economy and a strong Nation.”
Startup Scheme Launch
• The event was inaugurated on 16 January 2016 by the finance minister
Arun Jaitley. Among the attendees were around 40 top CEOs and startup
founders and investors from Silicon Valley as special guests including
Masayoshi Son, CEO of SoftBank, Kunal Bahl, founder Snapdeal, Ola
founder Bhavish Aggarwal, Paytm founder Vijay Shekhar Sharma, Travis
Kalanick, founder of Uber, Adam Nuemann, CEO of WeWork, Sachin
Bansal, founder of Flipkart and others.
Highlights of Startup
1. Self certification
• The start-ups will adopt self-certification to reduce the regulatory liabilities. The self-certification
will apply to laws including payment of gratuity, labour contract, provident fund management, water
and air pollution acts.
2. Start-up India hub
• An all-India hub will be created as a single contact point for start-up foundations in India, which will
help the entrepreneurs to exchange knowledge and access financial aid.
3. Easy Registration
• An online portal, in the shape of a mobile application, will be launched to help start-up founders to
easily register. The app is scheduled to be launched on April 1.
4. Patent protection
A fast-track system for patent examination at lower costs is being conceptualized by the central government.
The system will promote awareness and adoption of the Intellectual Property Rights (IPRs) by the start-up
foundations.

5. Corpus Funds of Rs. 10,000 crore to support start-up.


The government will develop a fund with an initial corpus of Rs 2,500 crore and a total corpus of Rs 10,000
crore over 4 years, to support upcoming start-up enterprises. The Life Insurance Corporation of India A N
Gawade & Co. Start-Up India Chartered Accountants Page | 13 will play a major role in developing this corpus.
A committee of private professionals selected from the start-up industry will manage the fund.

6. National Credit Guarantee Trust Company


A National Credit Guarantee Trust Company (NCGTC) is being conceptualized with a budget of Rs 500 crore
per year for the next four years to support the flow of funds to start-ups.

7. No Capital Gains Tax


At present, investments by venture capital funds are exempt from the Capital Gains Tax. The same policy is
being implemented on primary level investments in start-ups.
8. No Income Tax for three years
Start-ups would not pay Income Tax for three years. This policy would revolutionize the pace with which
start-ups would grow in the future.

9. Tax exemption for investments of higher value


In case of an investment of higher value than the market price, it will be exempt from paying tax.
INITIATIVE
• Encourage entrepreneurship among the youth of India. Each of the 1.25 lakh Bank branches should encourage
at least one Dalit or Tribal Entrepreneur and at least one Woman Entrepreneur. START UP INDIA Start of
India Initiative.
• In addition to existing systems to facilitate Start-ups, loans would also be given to help people.
• Give a new dimension to entrepreneurship and help set up a network of start-ups in the Country.
• Promised to do away with the current practice of interview-based selections for low-skilled Government jobs.
• The practice of "interviews" for recruitment at relatively junior levels and departments concerned to end this
practice at the earliest and promote merit by recruiting only through transparent, online processes.
• As part of the Skill India and Digital India initiative, package of incentives will be given to manufacturing
units for generating jobs.
ACTION PLAN
• Funding Support through fund-of-funds with corpus Rs. 10,000 crore. Challenge is that the Government Starts
disbursing the Rs. 2500 crore earmarked every year Starting business in one day. The action plan provides
entrepreneurs to register a company in one day, against 15-20 days as of now. The Government plans to
implement it by April 1, 2016.Challenges include integration of DIN, TAN, DSC etc.
• No tax on profit , inspection for three years
• Capital gains tax exemption
• Credit guarantee scheme
• Easy and Faster exits policy:
-The action plan envisages exits within 90 days in case of a start-up in a simple debt structure.
-Challenge is getting pass the new Insolvency and Bankruptcy Act, 2015. Also the phrase "simple debt structure"
needs to be defined properly.
• No capital gain if money invested in another start up
• Relaxed Norms of Public Procurement for Startups
• Self certification-based compliance for labor and environment laws
• Single point start up India hub for clearance
Mobile App, Portal for registrations
• Handholding with Government acting as a friend and colleague
• New intellectual property rights protection,80% reduction in patent free and
fast tracking patent examination.
• Special scheme for women entrepreneurs
• Encouragement to incubation centers
• Support to biotechnology start-ups

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