Unemployment is a big problem in our country. And it looks like there is no solution to this problem but the government is giving its 100% to solve this problem. And the result of this is startup India standup India.
Startup India standup India 2023
Startup India standup India was started on 5th April 2016. startup India standup India is a very ambitious scheme of the government of India. The mission of this scheme is to increase the startups and with this developing a system for the new ideas for startups. This will increase the economic growth of the country and with this producing employment on a big level.
This scheme will provide financial help to young educated guys who want to start their own business. this scheme is not only for youths anyone can get the benefit of this scheme specially sc/st and women industrialists. In this scheme, banks provide loans easily to new industrialists for a better and strong start of their new business.
What is a startup ?
If this question is also running in your mind then I tell you that a startup in the government’s eye is a new company in which is not older than 5 years from its registration date and whose income is less than 25 crore per annum. If a unit or company’s income in the previous financial year was more than 25 crore rupees or it completes its five years from its registration date then it is not eligible to be called a startup.
Helping amount for Startups
Government is committed to providing financial help to startups. The government will provide 2500 crore funds at the starting of this scheme and a total of 10,000 crores in the next four years for regular financial help of startups.
The Indian government will set up a national credit guarantee trust company (NCTGC) for banks and other loan creditors to encourage them and give them an assurance of their money. Through NCTGC government will give a 500 crore guarantee to all loan creditors so they can provide loans for startups without worry.
Who can start a Startup ?
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Anyone can start a startup may it be a new businessman any educated guy with a new business idea or a woman who wants to empower women by providing them employment. Anyone can start a new business startup the only thing he has to got is new ideas for the development of the industrial sector.
Additional help for Startups
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Giving additional help to startups through the government gives them relief in tax payments. This will provide them a suitable environment for startups and help them established themselves in the market strongly. The government gives them relief from the tax on their beneficial income for the first three years.
Co-powered by eminent bigwigs of the industry, these challenges and programs seek innovative solutions that resolve issues, improves current scenarios, or create social impact. Check out the programs here: https://t.co/p6IFOngCTm #startupindia #challenges #programs pic.twitter.com/FOiEhZz52U— Startup India (@startupindia) October 7, 2021
So that they can establish themselves in this competitive market. investments they get from the incubators are also tax-free for them. Also if a new startup wants a patent then it is 80% free for them.
Scheme related some important notes
If a businessman starts his business in this startup scheme and then he wants to sell his property then 20% tax which is on selling properties is free for him.
The government’s focus is on new ideas for startups for fast economic growth and generating employment in new sectors.
Under the bankruptcy law if someone wants to close his business then it is very easy for him he can shut down his business within 90 days of starting easily.
There are special provisions for women under this scheme.
Under this scheme, there are 125 lakh bank branches which provide funds or loans and they are committed to providing loan to at least one sc/st businessman and one woman.
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This scheme will fasten the economic growth of India and increase the industrialization and it also increase investment may its be domestic and foreign. And with it is obvious that employment will generate in the new sectors which will remove our youths from the bog of unemployment.
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If this scheme succeeded rationally then it will solve many problems of our country. So today’s post end here if you liked it then share it with your known ones. And if have any suggestions for us then you can suggest us in our commentbox.
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