Startup India Standup India Essay, Scheme FOR Students & Children

Startup India Standup India is a new scheme or a campaign launched by the Prime Minister Narendra Modi on last Independence Day i.e. on 15 August 2015, for the better future of the Indian youths; to encourage start-up’s i.e. the Youths of India, towards entrepreneurship by supporting them through bank financing to create more jobs in India.

This event was inaugurated by the Finance Minister Arun Jaitley. Also, there were around 40 top CEOs and startup founders and investors from Silicon Valley as special guests including Masayoshi Son CEO of Softbank, Snapdeal founder Kunal Bahl, OLA founder  Bhavish Agarwal,  paytm founder Vijay Shekhar Sharma, Travis Kalanick founder of Uber, Adam Neumann CEO of WeWork, BJ Arun CEO of  July Systems, Prateek Kr. Bhowmick Co-founder of ReviewAdda,  Sachin Bansal Co-founder of Flipkart, Naveen Tewari Co-founder of Inmobi and many others.

This campaign is planned to bring new opportunities for the youths of the country.

PM Narendra Modi has talked about this campaign on 15th August while addressing the nation from Red Fort, New Delhi. This initiative is to encourage young entrepreneurs to greatly involve the entrepreneurship for a better future.

He also said that there would be no inspection of the enterprises during the first three years of the launch.

According to the program, around 1.25 lakh bank branches will encourage youth entrepreneurs by giving them a loan. This campaign will create new jobs for the people in India.

It is focused on restricting the role of States in the policy domain and to get rid of License Raj and problems in getting land permissions, foreign investment proposal, environmental clearances.

The StartUp India Standup India will also aim to promote entrepreneurship among the lower castes i.e. mainly the SCs and STs, and also the women communities which include the self-help group.

The Reserve Bank of India will also take some necessary steps to help improve the ease of doing business in the country and contribute to an ecosystem that is conducive to the growth of start-up businesses.

Prime Minister Narendra Modi unveiled a 19-point action plan for start-up enterprises in India which are as follow:-

Self-Certification- The startups will adopt Self-Certification to reduce all the regulatory Liabilities and to ease the legal Paperwork of the entrepreneurs.

Start-up India Hub-A common hub will be created for all the new entrepreneurs to share their ideas and managerial tactics.

Register through an app-An An online web application is launched to make easy access for the entrepreneurs to register with their Business.

Patent Protection-A Fast-track system for patent examination is being started. This will help to reduce the cost of patenting the products.

Rs 10000 Crore Fund- The Government will provide a collection of Rs 2,500 crore and the total collection of 10000 crores to support new Start-up Enterprises. A committee of people consists of private professionals, selected from the start-up industry will manage all the funding provided by the government.

National Credit Guarantee Trust Company (NTGTC) – is a company started by the Government to enable the flow of money to the start-up enterprises. The budget assigned is Rs 500 Crore per year.

No Capital Gains Tax-A Capital Gains Tax is a tax levied on profit from the sale of property or an investment. This Tax won’t be applied to the entrepreneurs on primary-level investments in start-ups.

No IT (Income Tax) for 3 years-The The start-up enterprises won’t be paying their Income Tax for the first three years. This policy will encourage them to start a new business.

Tax exemption for investments of higher value- If there is any investment made on a higher value than the market value then it will be exempted from paying Tax.

Building Entrepreneurs- This plan will provide Innovative related study plans for students who wish to start a new business.

Atal Innovation Mission- This plan will be started to boost innovative ideas and encourage talented youths.

Setting up incubators- In Business Incubators means a place, especially with support staff and equipment, made available at a low rent to new small businesses. A new partnership is being considered for 35 new incubators and 31 innovation centers at National Institutes.

Research Parks- The Government is planning to set up many new Research parks. In all, there will be 7 Research Parks including 6 in the Indian Institute of Science Campus with an investment of 100 crores each.

Entrepreneurship in Biotechnology- This plan will establish five new biotech clusters, 50 new bio-incubators, 150 technology transfer offices, and 20 bio-connect offices in the country.

Dedicated programs in school- The government will start many different innovative programs in lakhs of different schools.

Legal Support- A team of People will look after the legal support required by the entrepreneurs.

Rebate- A rebate of 80 percent on the total value will be provided to the entrepreneurs on filing a patent application.

Easy Rules- Rules applied by the government applied for entrepreneurs will be a bit simple.

Faster exit- If the entrepreneurs fail to start their business then the government will help them provide a better solution for their failure. If they fail again then the government will provide an easy way out.

This initiative has been planned to bring positive changes according to the need for development in the country. It will help our country to show the talent of youths through their innovative business ideas across the whole world. There is a need to spread awareness about this program to all the people and institutions including IIT and all other institutions so that they can be connected live through this scheme in the near future.

This program will be a big help to all the new talented startup entrepreneurs to look so far to lead our India. At least one Dalit or tribal entrepreneur and one woman entrepreneur will be supported by each of the 1.25 lakh bank branches in India.

This initiative will provide a new dimension to the entrepreneurs and help newcomers in setting up their businesses as well as make a live network of start-ups through the connection. Highly skilled and multi-talented youths of the country will be completely benefitted through this campaign and able to generate new jobs. This campaign is the result of the commitment of the Modi government to make India a developed country by 2022 with the availability of house, electricity, job and other basic needs to all.

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  1. Robert says:

    When is our independence day?15th august or 16th January? Kindly make the corrections in the article

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