Rise My Venture team presents the 15 Key Highlights of Startup Action Plan. Startup India Action Plan is a great initiative by Honorable PM Narendra Modi Ji. There are many benefits to start a new business under this startup action plan.
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1. Income Tax exemption to Startups for first 3 years.
2. Funding support of Rs. 10,000 Crore will be provided over a period of 4 years.
3. Capital Gain exemption if Startups invest capital by selling their personal assets.
4. 80% Rebate in registering Patent.
5. Credit Guarantee Fund: Rs. 500 Crore per year for the next 4 years.
6. Mobile App based registration for Startups from April 1, 2016.
7. Easy Exits in 90 days for Startups: Startups with simple debt structures will be allowed to wind up on a fast-track basis (within 90 days) from making of an application.
8. Self-certification compliances: Startups will be allowed to self-certify compliance with labour and environment laws.
9. No kind of Inspection for first 3 years.
10. No Government intervention in Startups.
11. A scheme for Women Entrepreneur to be announced soon.
12. A group of lawyers to be setup who will help resolving Patent related problems for free.
13. Seven New Research Parks to be started with a fund of Rs. 100 Crore each.
14. Organizing Startup Fest all over India and abroad regularly.
15. Atal Innovation Mission (AIM) for encouraging Innovation among Startups.
This article has been well researched by Rise My Venture team.