Government Plan Programme Policies for UPSC Exam: START UP India

Government Plan Programme Policies for UPSC Exam

:: START UP India ::

"Start up India Stand up India" initiative was announced by the Prime Minister in his address to the nation on 15th August, 2015. First startup fund was announced for it in the budget 2015. Start-up India plan provides lot of benefits to the startup's. Most important provisions of the new Startup India plan are given below:

• Single Window Clearance even with the help of a mobile application
• Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs. 10,000 crore.
• The overall intent of the approval is to leverage the institutional credit structure to reach out to these under-served sectors of the population by facilitating bank loans repayable up to 7 years and between Rs. 10 lakh to Rs. 100 lakh for Greenfield enterprises in the non farm sector set up by such SC, ST and Women borrowers.

• The loan under the scheme would be appropriately secured and backed by a credit guarantee through a credit guarantee scheme for which Department of Financial Services would be the settler and National Credit Guarantee Trustee Company Ltd. (NCGTC) would be the operating agency.

• patent registration fee would be reduced by 80 percent
• Modified and friendlier Bankruptcy Code to ensure 90-day exit window.
• Handholding support for borrowers both at the pre loan stage and during operations.
• Freedom from mystifying inspections for 3 years
• No capital gain tax would be charged for first three years.
• No income tax in profit need to be given for the period of three years.
• 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.

The Ministry of Human Resource Development along with Department of Science and Technology will start an initiative under the scheme to set up over 75 startup support hubs in various prestigious institutions like National Institutes of Technology (NITs), the Indian Institutes of Information Technology (IIITs), the Indian Institutes of Science Education and Research (IISERs) and National Institutes of Pharmaceutical Education and Research (NIPERs).

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