On Saturday, 16th January 2016 The Indian Prime Minister announced a number bounty points for the Indian Startups & Entrepreneurs. The campaign called “Startup India” saw numerous Indian Entrepreneurs getting into some rigorous discussion. At the end of the program, Indian Prime Minister Narendra Modi addressed the gathering. Here are some highlights of Startup India Action Plan, presented by him.
1) Income Tax exemption for first 3 years.
2) Fund of Rs. 10,000 crore (with 2,500 crore each year) to be invested in Startups in next 4 years and a Credit Guarantee Fund for Rs. 500 crore each year for next 5 years.
3) Capital Gain exemption if Startups invest capital by selling their personal assets.
4) 80% Rebate in registering Patent.
5) Easy Exits in 90 days.
6) Self-certification compliance.
7) No kind of Inspection for first 3 years.
8) Incubation program to be started in 5 Lac Schools and setting up of 35 new Incubation Centers.
9) No Govt intervention in Startups.
10) A scheme for Women Entrepreneur to be announced soon.
11) A group of lawyers to be setup who will help resolving Patent related problems for free.
12) 7 New Research Parks to be started with a fund of Rs. 100 crore each.
13) Organizing Startup Fest all over India and abroad regularly.
14) Mobile App based registration for Startups from April 1, 2016.
15) Atal Innovation Mission (AIM) for encouraging Innovation among Startups.
Download the complete Startup India Action plan here: https://t.co/baQ4SxwaZe