Current Government Policies - Startup India

ECONOMICS PROJECT
Current Government Policies – Startup India
Introduction
Our country is very vast and complex. Each year numerous government schemes
or yojanas are announced that take care of the development and prosperity of
the people of our country. Since the new union government formed in 2014 many
new schemes (Yojnas) have come into force for the development on rural areas,
infrastructure, start-ups, to help boost unskilled production of goods etc. In this
project report I will be talking about a policy introduced to help start-ups grow.
The scheme is “Start-up India”.
Current Government Policy “Start-up India”
Startup India is an initiative of the Government of India.
The campaign was first announced by Indian Prime Minister, Narendra
Modi during his 15 August 2015 address from the Red Fort, in New
Delhi. The action plan of this initiative, is based on the following three
pillars:
1. Simplification and Handholding.

2. Funding Support and Incentives.
3. Industry-Academia Partnership and Incubation.
An additional area of focus relating to this initiative, is to discard
restrictive States Government policies within this domain, such
as License Raj, Land Permissions, Foreign Investment Proposals, and
Environmental Clearances. It was organized by The Department for
promotion of industry and internal trade (DPI&IT).
A startup defined as an entity that is headquartered in India, which was
opened less than 10 years ago, and has an annual turnover less
than ₹100 crore. Under this initiative, the government has already
launched the I-MADE program, to help Indian entrepreneurs build
10 lakh mobile app start-ups, and the MUDRA Bank's scheme (Pradhan
Mantri Mudra Yojana), an initiative which aims to provide micro-finance,
low-interest rate loans to entrepreneurs from low socioeconomic
backgrounds. Initial capital of ₹20,000 crore has been allocated for this
scheme.
The event was inaugurated on 16 January 2016 by The Former Finance
Minister of India Arun Jaitley. Among the attendees were CEOs, startup
founders and venture capitalists
Government’s role
The Ministry of Human Resource Development and the Department of
Science and Technology 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 (IISERs) and National Institutes of Pharmaceutical Education
and Research (NIPERs).
The Reserve Bank of India said it will take steps to help improve the
‘ease of doing business’ in the country and contribute to an ecosystem
that is conducive for the growth of start-up businesses.
Investments
SoftBank, which is headquartered in Japan, has invested US$2
billion into Indian startups. The Japanese firm has pledged to
investment US$10 billion. Google declared to launch a startup, based on
the highest votes in which the top three startups will be allowed to join
the next Google Launchpad Week, and the final winner could win an
amount of US$100,000 in Google cloud credits. Oracle on 12 February
2016 announced that it will establish nine incubation centers
in Bengaluru, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Triv
andrum and Vijayawada. Rs 1000 crore Fund of Funds for startups are
reserved for women-led startups
Key points
 10,000 crore startup funding pool.

 Reduction in patent registration fees.
 Improved Bankruptcy Code, to ensure a 90-day exit window.
 Freedom from Capital Gain Tax for first 3 years of operation.
 Freedom from tax for first 3 years of operation.
 To target 5 lakh schools, and involve 10 lakh children in
innovation-related programmes.
 Encourage entrepreneurship within the country.
 Promote India across the world as a start-up hub.
Conclusion
This Scheme was very successful and it has yielded the following
numbers:-
15,472 startups have been recognised under Startup India.
13,176 recognised startups have reportedly created 1,48,897 jobs.
233.27K have registered under the Startup India learning programme.
45% startups have at least one or more women directors.

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ECONOMICS PROJECT

Current Government Policies – Startup India

1. Simplification and Handholding.

 10,000 crore startup funding pool.

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