What are the Benefit of Start-up India ? – Indian government has started the new initiative for boosting entrepreneurship in India with their flagship program i.e. Start-Up India. This program is started with a vision to Make India, start-up capital of the world. The core features of this program is to provide :
- Easy accessibility of loan from banks to start-ups
- Ease of getting licenses, land and others which are needed to start any business
- Speedy regularity Clearance
- Department of Industrial Policy & Promotion (DIPP), Government of India has been given a major task to speed the initiative with minimum role of states
- The major vision of this project was to generate the employment at mas scale along with encouraging innovation, Create pool of young entrepreneurs and making India a growth engine
Read : How To Apply for MUDRA Loan with Banks ?
What are the Benefit of Start-up India program ?
There are major benefit provided through this scheme to any start-ups :
1. Income Tax exemption on first three year of income
2. Patent application fees rebate up to 80%
3. Exemption on Capital Gain tax
4. Start-up get registered within 24 hours through Mobile Apps
5. Patent process will be done speedily
6. There is online hassle free web portal for clearances, approvals, and registrations
7. There are certain categorizes where No inspection for 3 years of start-up businesses in respect of labor, environment law compliance post self-certification
8. Proposed norms for easier exit within three months
9. There is no requirement of any turnover or experience of business
10 Government will setup a fund with an initial corpus of Rs. 2, 500 crore and total corpus of Rs. 10, 000 crore over a period of 4 years
In my opinion a great initiative for young entrepreneur, I will update the details soon with details like How to get loan easily for Start-up India initiative through Banks ? etc.get tune with us.