Narendra Modi launched "Start up India Stand up India" Action plan

Narendra Modi launched "Start up India Stand up India" Action plan

Indian 15th PM Narendra Modi had spoken about launching the ‘Start-up India’ Scheme in his Independence Day address last year.

16th JANUARY 2016 को Start Up India, Stand Up India का प्लान बताया जाएंगे और इस कार्यक्रम में सभी IITs, IIMs, Central universities and NITs जुड़ेगी।

“Youth in every corner of India have talent, they only need opportunity. This ‘Start up India, Stand up India’ should not be limited to a few cities. It should reach every corner of India”  said to Narendra Modi.

16th JANUARY 2016 Means this Saturday launched ‘Start up India, Stand up India’ over 15th Prime Minister Narendra Modi.

Finance Minister Mr. Arun Jaitley on Saturday(16th January, 2016) kick-started over 15th Prime Minister Narendra Modi's ambitious Start-Up India mission at Vigyan Bhavan in New Delhi.

The Start Up India mission to be unveiled on Saturday(16th January, 2016) envisages technology business incubators and research parks.

The Human Resource Development Ministry(HRDM) and the Department of Science and Technology(DOST) have agreed to partner in an initiative to set up over 75 such startup support hubs in the National Institutes of Technology (NITs), the Indian Institutes of Information Technology (IIITs), the Indian Institutes of Science Education and Research and National Institutes of Pharmaceutical Education and Research.

What is Startup India, Standup India

“Startups in India Schemes is not just about mobiles and laptops it business ideas and Start-up India Schemes does not only mean a company with billions of dollars of money and 2,000 employees. If it is able to provide employment to even five people, these mission through you are indirectly helping a country progress. Young people have to change their mindsets from being job seekers to try and become job creators. Once you become a job creator, you will realize that you are transforming lives”. - PM Narendra Modi.


The Startup India, Standup India organised by Department of Industrial Policy and Promotion (DIPP), along with other key Indian startup ecosystem players. 

The Startup India, Standup India initiative main aims is the country's entrepreneurial spirit, and create a strong ecosystem for promote innovation and startups in India. 

Start up India Main Points :

- Tax Exemption to Startups for 3 year

- Launch of Atal Innovation Mission (AIM)

- Setting up of 7 new research parks modeled on the research park at IIT Madras

- स्टार्ट अप के लिए मोबाइल और वेब पोर्टल शुरू  होगा । 



Here are the 19 plans for start-ups:


1. Certification : Self-certification

The start-ups will adopt self-certification to reduce the regulatory responsibilities. The self-certification will apply to laws including payment of gratuity, labour contract, provident fund management, air and water pollution acts.

2. Hub : 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 help.

3. App : Register through app

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 1st April, 2016.

4. Protection : Patent protection

A fast-track system for patent examination at lower costs is being conceptualized by the central government. The system will promote adoption and awareness of the Intellectual Property Rights (IPRs) by the start-up foundations.

5. Fund : Rs 10,000 crore fund

The Indian government will develop a fund with an initial corpus of Rs 2,500 crore and a total corpus of Rs 10,000 crore over four years, to support upcoming start-up enterprises. The Life Insurance Corporation of India will play a major role in developing this corpus.

6. NCGTC : National Credit Guarantee Trust Company  (NCGTC)

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. Capital Gains Tax : No Capital Gains Tax

At present, investments by dashing capital funds are exempt from the Capital Gains Tax. The same policy is being implemented on primary-level investments in entrepreneurs start-ups.

8. Income Tax : No Income Tax

If you are start-ups then do not pay Income Tax for three years. This policy would revolutionize the pace with which start-ups would grow in the future.

9. Tax Exempt : 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

10. For Schools : Building entrepreneurs

Innovation related study plans for students in over 5 Lakh schools. Besides, there will also be an annual incubator grand challenge to develop world class brooders.

11. AIM : Atal Innovation Mission

The Atal Innovation Mission (AIM) will be launched to boost innovation and encourage talented youths.

12. Incubators : Setting up incubators

A private or public partnership model is being considered for 35 new brooders and 31 innovation centers at national institutes.

13. Parks : Research parks

The Indian government plans to set up 7 new research parks, including 6 in the Indian Institute of Technology campuses and one in the Indian Institute of Science campus, with an investment of Rs 100 crore each.

14. Biotechnology : Entrepreneurship in biotechnology

The Indian government will further establish 5 new biotech clusters, 50 new bio incubators, 150 technology transfer offices and 20 bio-connect offices in the country.

15. School Programmes : Dedicated programmes in schools

The Indian government will introduce innovation-related programmes for students in over 5 lakh schools.

16. Support : Legal support

A panel of facilitators will provide legal support and assistance in submitting patent applications and other documents(Official Documents).

17. Pay Back : Rebate

A rebate amount of 80 percent of the total value will be provided to the entrepreneurs on filing patent applications.

18. Rules : Easy rules

Norms of public procurement and rules of trading have been simplified for the new start-ups.

19. Easy Way out : Faster exit

If a start-up fails, the Indian government will also assist the entrepreneurs to find suitable solutions for their problems. If they fail again, the Indian government will provide an easy way out

                          
Self-declaration on labour to boost  enterpreneurship, employment :

The union ministry of labour and employments recent decision to allow start-up to submit online self-declaration instand of inspection under six labour laws is expected to help full MSMEs (micro,small and medium enterprise) in a big way. CRISIL (A global analytic company providing ratting,research & risk and policy advisory services) believes such measure  allow to start-up to focus on their business rather than worry about compliance
requirements.

A CRISIL survey of 5800 rated MSMEs shows the employment generating potential of
start-up is around 38 employees per enterprise less than half that for established unit it takes a while for an enterprise to provide employment to nearly 100 employees.

The government's initiative to spur entrepreneurship and business in the country such as
make in India, start-up India, stand-up India. and measure to improve ease of doing business - are expected to create enormous opportunities for the MSME sector, helping them scale up faster and improve their employment potential.

To recall, India's ranking in the world Bank's doing Business 2016 report has improve to 134, earlier 140.