startup india

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Points to understand Modi Government new startup initiative :

  • 80% reduction in patent application of startups.
  • No Govt. inspection for 3 yrs
  • Self certification in compliance for start ups.
  • Easier closure of business and insolvency (90 days exit plan) Bankruptcy bill -2015 to be introduced in parliament.
  • Credit guarantee fund scheme will be introduced.
  • Tax incentives will be introduced.
  • Tax exemptions on capital gains.
  • Sell on property to start a startup will be exempted for capital gains.
  • Profit of startup for 3 years will be free from tax.
  • Special provision for women entrepreneurs to be introduced.
  • Exemption investment above fair market value.
  • Launch of Atal innovation mission platform.
  • Sector specific incubators will be launched.
  • Pre incubation will be introduced.
  • Start up will be provided with seed capital.
  • Innovation award to encourage startups and entrepreneurs will also be given.
  • Mobile app from April 1 2016 will be introduced.
  • 13 startup centers will be introduced.
  • 100 crores to research centers and IIT’s will be given.
  • Biotechnology will be given boost.
  • Student innovation programme will be introduced at school level.
  • Incubator grand challenges: 10 world best incubators will be provided with Govt. funding of 10 crores rupees.
  • Startup fests will be started and promoted by Govt. in order to provide visibility to new startups at national and international level.