Our recommendations accepted
Seems like all the Modi circle recommendations on startups have been accepted by PM and the Govt and they have gone much beyond on registrations/taxation/start up promotion. Here is what was announced:
Narendra Modi's announcements and #StartupIndia policy
#1. Compliance regime based on self-certification. Labour laws – no inspection for 3 years
2. Startup India hub – single-point contact (‘friend, mentor, guide’)
3. Mobile app to be launched on April 1: registration of startup company in one day | Also portal for clearances, approvals and registrations
4. Fast-track mechanism for startup patent applications
5. Panel of legal facilitators for startups to file IP (patents, designs, trademarks) – costs borne by gov
6. 80% rebate on filing of patent applications by startups, as compared to other companies
7. Relaxed norms of public-procurement for startups. No requirement of turnover or experience, but no relaxation of quality
8. Faster exits for startups (Insolvency and Bankruptcy Bill), eg: wind up within 90 days
9. Fund of funds – initial corpus – INR 2,500 crore, later on 10,000 crore
10. Credit guarantee fund for startups
11. Tax exemption on capital gains
12. Tax exemption to startups for 3 years to promote growth
13. Atal Innovation Mission:sector-specific incubators, 500 tinkering labs, pre-incubation training,seed fund for high-growth; PPP model being considered for 35 new incubators; 31 innovation centres at national institutes, 7 new research parks like IIT-M. 5 new bio-clusters
14. Innovation Core Programs for school students in 5 lakh schools
15. Annual Incubator Grand Challenge to create world class incubators in India
16. National and International Startup Festivals to provide visibility more
Narendra Modi's announcements and #StartupIndia policy
#1. Compliance regime based on self-certification. Labour laws – no inspection for 3 years
2. Startup India hub – single-point contact (‘friend, mentor, guide’)
3. Mobile app to be launched on April 1: registration of startup company in one day | Also portal for clearances, approvals and registrations
4. Fast-track mechanism for startup patent applications
5. Panel of legal facilitators for startups to file IP (patents, designs, trademarks) – costs borne by gov
6. 80% rebate on filing of patent applications by startups, as compared to other companies
7. Relaxed norms of public-procurement for startups. No requirement of turnover or experience, but no relaxation of quality
8. Faster exits for startups (Insolvency and Bankruptcy Bill), eg: wind up within 90 days
9. Fund of funds – initial corpus – INR 2,500 crore, later on 10,000 crore
10. Credit guarantee fund for startups
11. Tax exemption on capital gains
12. Tax exemption to startups for 3 years to promote growth
13. Atal Innovation Mission:sector-specific incubators, 500 tinkering labs, pre-incubation training,seed fund for high-growth; PPP model being considered for 35 new incubators; 31 innovation centres at national institutes, 7 new research parks like IIT-M. 5 new bio-clusters
14. Innovation Core Programs for school students in 5 lakh schools
15. Annual Incubator Grand Challenge to create world class incubators in India
16. National and International Startup Festivals to provide visibility more
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you all are right but as u all know that it takes time to change one's habit or culture....habits diehard... we can change ourselves only so start with self...What initiated by government is a good move. more
Jan 18
Never mind for any wrong things that is going to happen. The time has come to think beyond. Go ahead and prove yourself. more
Jan 18
There are many things still needed by Modi government to transform India into skill India. Even babus in the workplace must exercise their skill to deliver service in an orderly manner. What is required is a work culture right from top to bottom everywhere. Significant changes only then can be observed Dr S.Sanyal more
Jan 18
I also wish to add here Government's own approach. Did you know that an RTI inquiry has revealed that the lion symbolizing MAKE IN INDIA campaign itself was designed abroad in USA at a cost of Rs 11 crores. http://timesofindia.indiatimes.com/india/Make-In-India-logo-designed-by-foreign-firm-says-RTI/articleshow/50573386.cms I did write to PMO about this CRGO under grievance to PM. Within 2 days I got a message saying the grievance has been disposed off- sent by a Babu. I looked up reason only to find one line- No action to be taken !!!!! This is how Babu's work even in PMO. Matter is serious. That is why I had suggested that Babus with little practical work experience should be replaced with professionals who have practical hands on field experience in companies (Directors/ CMDs etc as Secretaries in key ministries. Education ministry must have VCs Registrars from reputed universities etc. more
Jan 18
What happens if the startups migrate to some other country after getting all the benefits from India. Is there an effective means to monitor the startups? more
Jan 18
