Startup India is a scheme launched by the Government of India. Sole aim of this scheme is to promote employment by starting new startups in the country. The people of the country and the people living in the country can also progress in life and career.
The plan is to create an environment in the country that is conducive to the growth of startup business. Under Startup India Scheme, the government aims to strengthen new business startups through innovation.
There were very strict rules and laws in India to start your own startup. To over comes these rules this and to provide new opportunities this scheme was been introduced.
Because of which people were nervous to start their own startup. To start a new startup under this scheme, the entrepreneur will get many types of benefits. Because of this scheme one will go a long way and progress in his business.
When did Startup India Start 2024 ?
The Startup India scheme was announced by the current Prime Minister of India, Narendra Modi ji on 15 August 2015 from the Red Fort on the occasion of Independence Day.
This scheme was launched by the current Prime Minister of India, Narendra Modi ji, former Finance Minister of the country Arun Jaitley ji.
It was done in the presence of many influential people of the country on 16 January 2016 at Vigyan Bhawan in Delhi. The scheme has also been named as Stand-up India.
Also Read : what is digilocker
Aims of Startup India 2024
- Through this scheme, the government is encouraging people to start new small and big industries, in which the people will be provided with startup loans, proper guidance and a favorable environment by the government and the system of startup training as per the need of entrepreneurs. There will also be skills development training, business development training etc.
- So that people can contribute significantly in the development of the country and provide various means of employment for the people in the country, another main purpose of this is also to encourage people to set up their own jobs or factories.
- Most people within the country put more emphasis on jobs, they never think of starting their own business, they are afraid to do business because if their business model is not successful, then people will make fun of them or their money there can also be losses. So they spend their entire life like this and never start doing business.
- Therefore, the government wants the youth of the country to think of something new and do it so that more people can get employment and can also support themselves in the economic system of the country.
- If any youth wants to do business,then this scheme will provide a platform. One can start their business by connecting with this scheme. with help of this scheme one can provide employment to the people, this will be of great benefit to both themselves, the people and the country.
Do You Know : What is MSME Loan
Some Important Points to Remember Before you start your business under Startup India
- For any startup to be registered under Startup India, your company must be a private limited and your company must be registered under the Companies Act.
- To get your startup registered under the Startup India scheme, your company registration should not be older than seven years.
- In simple language, if your company is not older than seven years, but if your company is working in the field of biotechnology, then this time period will be valid for ten years instead of seven years.
- If the turnover of the company exceeds Rs 25 crore in any financial year after the start of your company, then you will not be able to take advantage of this scheme of Startup India.
- If your startup is started by inspiring someone else’s startup, ie a business model that is already working in the market, then such business will not get the benefit of Startup India scheme.
- Even such startups will not be able to take advantage of this scheme, through which other people are not getting employment.
- In order to avail the Startup India scheme, any startup must first obtain a certificate from the DIPP established Inter Ministerial Board for the renewal nature of its product and service.
Also read : What is GDP
Some highlights of Startup India Scheme : –
- In the business started under the Startup India Scheme, the profit earned by the businessmen will be exempt from the in-tax at the beginning of the business for three years so that he can maximize his business.
- The Government intends to promote entrepreneurship in the country by undertaking more and more Startup India programs under the ‘Start Up India’ scheme to boost the country’s economic growth and provide large scale employment opportunities in the country.
- It is proposed to form a National Credit Guarantee Trust Company by the government in which a budget allocation of Rs 500 crore will be made annually for the next four years. So that more and more new startups can be started within the country with the help of this loan trust, because money is very important for running any business.
- India has the third largest number of startups in the world. The government will also give a variety of discounts to these traders in the matter of taking government purchase contracts. Start-up businessmen will be given exemption in government contracts based on their experience and business limits. Special arrangements have been made for women entrepreneurs here.
- Under the startup scheme, if an entrepreneur goes bankrupt in his business, then the entrepreneur is also given a simple option to close the business. Entrepreneurs will be able to close their start ups within a period of 90 days.
- Innovation courses will be started for students to promote entrepreneurship from student life itself and this will be increased by focusing on 10 lakh children in about 5 lakh schools.
- A new arrangement has been made for startup entrepreneurs based on new thinking and new technology in the country. In registration of such entrepreneurs 80% discount will be given in the registration fee.
Must Read : What is Share Market ?
Some potential problems encountered in startup planning
- The biggest problem for making Start Up India or Stand Up India scheme successful is because any business can be made successful only when it has the right knowledge about that task but the young class lacks experience so it is necessary It is that they should be given enough information about the business through new technology, which is enough to make any business successful.
- In order to make Start Up India a success, it is necessary that the government should start startup training programs from place to place so that people can be given the right direction to start any startup.
- In today’s time, technology is mostly used in business, but people living in villages and small towns are still very weak in terms of using digital technology to run computers properly.
- To start any startup, the most influential and talented youngsters or individuals are found only in small towns and villages, but successfully combining them is a big challenge.
- It is also true that in today’s time, all the big startups inside the world have not been successful at all, they have taken a long time to succeed, they get success only after failure, so it is important that startups fail After this, the government needs to give the right guidance to keep the spirit of youth moving forward.
- Funding is the biggest problem for starting any startup / business / business. Which can be given without any big guarantee. The biggest problem for public sector banks to work in this direction is the existing rules which are in dire need to be changed so that banks and other panels can easily approve loans for business.
Must Read : What is Atal Pension Yojana
Some documents required for availing loan under Startup India Scheme
- Aadhar Card
- Proof of residence (Voter ID Card)
- Proof of business address
- PAN Card
- Caste certificate for SC / ST category
- Passport size photo
- Bank account statement
- Statements of promoters / guarantors of assets and liabilities
- Latest income tax return
- Rent agreement (if rented commercial premises)
- Clearance certificate from Pollution Control Board if needed
- Project report
India’s Top 30 Startup Founders
- Navneet Singh, PepperTap
- Richa Kar, Zivame
- Sumit Jain, CommonFloor
- Amit Jain CarDekho
- Supam Maheshwari, FirstCity
- Ashish Goel, UrbanLadder
- Yashish Dahiya, Policybazaar
- Kavin Bharti Mittal, Hike
- Girish Mathrubootham, FreshDesk
- Abhinay Choudhari, BigBasket
- Vivek Gaur, YepMe
- VSS Mani, JustDial
- Suchi Mukherjee, LimeRoad
- Rahul Yadav, Housing
- Sanjay Sethi, ShopClues, Gurgaon
- Kunal Shah, FreeCharge
- Shashank ND, Practo
- Sahil Barua, Delhivery
- Ambareesh Murty, PepperFry
- Ritesh Aggarwal, OyoRooms
- Phanindra Sama, Redbus
- TA Krishnan, Ecom Express
- Albinder Dhindsa, Grofers
- Deepinder Goyal, Zomato
- Naveen Tewari, InMobi
- Pranay Chulet, Quikr
- Vijay Shekhar Sharma, Paytm
- Bhavish Aggarwal, Ola
- Kunal Bahl, Snapdeal
- Sachin Bansal, Flipkart
Do You Know : What is Senior Pension Insurance Scheme ?
How to register in Startup India ?
- First of all, you have to visit the official website of Startup India https://www.startupindia.gov.in/.
- Open the website, click on the option of register given in the homepage.
- Click on the register option, you have to set your name, email id, mobile number, and password by filling it and then click on the register option given below.
- The OTP is sent through an email to verify the register email id.
- Fill this OTP, the pro-file of the entrepreneur becomes.
- Once the profile is created, you can apply for your startup loan.
Formal News has always strived hard to provide up-to-date information and commentary on Centre and State Government Schemes that are of interest to you, your family and your Society. We believe in free, fair and credible information.
Even during these difficult times arising out of Covid-19, we remain committed to keeping you informed and updated.
However, We have a request:
As we battle the economic impact of the pandemic, we need your support even more so that we can continue to offer you more quality content. Your support in the form of Donations will be encouraging for us. Your donation can only help us achieve the goals of offering you even better and more relevant content. Your encouragement and constant feedback can help us to improve our offering. We need your financial support. You can support us through the Patreon Link:
Become a Patron!