A REVIEW ON STARTUP INDIA.

INTRODUCTION:

Startup India is an initiative by the Government of India (GOI), the campaign was first announced by the India Prime Minister Narendra Modi during his August 15th, 2015, address from the Red Fort, New Delhi. The action plan for this initiative was based on the following three pillars:

1. Simplification of handholding.

2. Funding support and incentive.

 3. Industry-academia partnership and incubation.

An additional focus of the initiative is to discard restricted state government policies within this domain, such as License raj, land permission, foreign investment proposal, and environment clearance. It was organized by the Department for promotion of industry and the internal trade.

KEY POINTS OF THE INITIATIVE:

• 10,000 crore startup funding pool.


• reduction in patent registration fees.


• improve bankruptcy code, to ensure 90 days exit window.


• freedom for mystifying inspection for three years of operation.


• freedom from capital gain tax for the first three years of operation.


• freedom from tax for the first three years of operation.


• self-certification compliance.


• crated an innovative hub, under the Atal innovation mission.


• to target 5 lakh school, and involve 10 lakh children in innovation-related program.


• new schemes to provide IPR protection to startup firms.


• encourage entrepreneurship within the country.


• promote the nation across the world as a startup hub.


• built startup oasis as Rajasthan incubation center.