Start-up India” campaign on January 16. The aim of this campaign is to promote new ventures and to support Start Up entrepreneurs by providing Financial assistance. Prime Minister Narendra Modi announced 10,000 crore rupees for start-up fund.
Key Points of Start-up India” campaign:
- To ensure the success of this campaign, other facilities were also announced. According to that, the income earned for 3 years will be exempted from Income Tax.
- These entrepreneurs will have to give a self-attested acceptance for 9 different laws related to labor and environment.
- There will be a discount of 80% on patent fees. Start Up entrepreneurs will also be provided an exemption in the capital gain tax.
- To make it easier for startups, the exit policy will be of 90 days.
- To promote innovations, Prime Minister Modi announced “Atal Innovation Mission” which will begin shortly.
- In India, the average age is of start-up founders is 28 years.