Prime Minister Narendra Modi today launched much touted campaign “Start Up India” to promote entrepreneurship in the country. The new policy offers many incentives and minimum interference from government. Here are 5 things which you should know about start up India-
- Tax exemptions for three years and concessions on capital gains tax.
2. A fund of Rs. 10,000 crore to back startups. Initially the corpus will be Rs. 2,500 crore. Also, a credit guarantee fund for startups.
3. A mobile app to be launched on April 1 making it possible to register startups in one day.
4. 80 per cent reduction in patent filing fee and fast-track mechanism for startup patent applications.
5. No regulatory inspection for three years.
PM had made an announcement regarding start up in his last republic day address at the red fort.
Way to go India!