Welcome back to Garish’s blog, hope you’re still enjoying my posts. This time I wanted to talk about the new Start-Up India programme coming into effect in January 2016.
This is really exciting news for young and enthusiastic inventors or anybody with an innovated mind who might want to try their look at starting-up their own business. The Government will be setting up an inter-ministerial panel who will over-sea business proposals put forward. It will be up to the panel to decide which entrepreneurs are good enough for them to make the grade. They will then need to help nurture them to success. Each proposal will be carefully vetted to ensure the businesses philosophy embodies the spirit of the start-up program and therefore meets the criteria needed to benefit from it.
The Modi Government have announced that the initiative will begin its early stages from January onwards. The benefits of the Start-Up program will mean that there is less red-tape making compliance requirements a lot easier to achieve. There will be a swifter approval process, better access to finance and help with tax relief. The reasoning behind it from the Government’s perspective is that it will generate increased employment figures and will raise income. This positive trend would help the economy to grow at a more rapid rate.
The programme will be connected to the Central Universities, IIT’s, IIM’s and NIT’s so that wherever youth is engaged, they’ll have a link to the Start-Up platform. This gives everyone an equal opportunity and I feel very encouraged by the recent news. The 16th of January will see the unveiling of the scheme so keep the date in your calendar.