Startup India Scheme, Standup India Loan Scheme (Application Form, Apply) – PM Jan Dhan Yojana,
Startup India Scheme | Standup India Loan Scheme (Application Form, Apply)
This article will resolve all the quires related to Start Up India Stand Up India Loan Scheme. How to Apply, Tax Benefits and all other information, Offering of Startup India to Entrepreneurs, Key Features, benefits and Drawbacks. This Scheme will be launched by PM Modi on 5th of April 2016
Under This loan scheme a loan amount of rs 10 Lakhs to Rs 100 Lakhs would be given to SC ST and women entrepreneurs.
The startup ecology of India got its full pace soon, as the PM Modi revealed the Action Plan of Startup India Scheme this Saturday and it was done at an invitation only event of the Start Up India, Stand Up India. This event was held at Vigyan Bhawan on Saturday.
What is actually Start Up India, Stand Up India
Structured by the Industrial Policy Promotion Department (DIPP), in conjunction with additional key players of Indian startup system, the initiative of Start Up India, Stand Up India focuses to rejoice the nation’s entrepreneurial character, and generate a strong bionetwork for fostering advancements and new business startups in the nation.
Prime minster Narendra Modi was very keen to introduce the Startup India, Standup India initiative in order to make the youth of the country stand in their own feet and create job opportunities for others. He declared a self-certification system with respect to nine environment and labor laws and stated there’ll be no check during the initial three years after launching the project. Speak to the initial conference of the entrepreneurs of start-up India, Modi declared an execution plan to advance such ventures that are witnessed as the key for employment generation as well as wealth creation.
Top Points from the Speech of the Prime Minister
The Government of India has been supporting farmers by providing them different kinds of loans for their farming practice and even allowing Debt relief on account of the harvested crops. Previous year PM Modi declared this scheme and said that the Indian youth have to focus on to create jobs and start their own businesses.
After five months of the announcement made by the PM, FM Arun Jaitley, inaugurated the ambitious scheme of the PM Modi on January 16 at Vigyan Bhavan in Delh and in that event about 1,000 entrepreneurs took part. The Ministry of HRD and the Science Technology Department are supporting as the associates to create over 75 of such supporting hubs in different NITs, IIIT), IISERs and NIPERs. With the 4,200 startups in India, the country ranks third internationally after UK and US however India still is in the 1 st place in Asia which sends Engineers and Scientist to the United States of America.
So to boost the former quantity and to lessen the later, India had planned the initiative of ‘Startup India, Standup India’. The section “Standup India” implies that the females and the entrepreneurs belonging to the SC/ST group should come forward and start their own businesses.
Offering of Startup India to Entrepreneurs
- The initiative of Standup India supported by the DFS intents to mention Women as well as entrepreneurs belonging to the SC/ST group. They have designed in supporting 2.5 lacs of borrowers with the loans from different banks that one can pay back in seven years.
- Prime Minister Modi declared that “There won’t be any income tax charged from the profits of startups’ for about three years”
- One can register a venture within 24 hours utilizing the Narendra Modi app. One just needs to fill an online application form. The filling of form through this app reduces the tedious procedure of Registering. Efforts are currently going on to reduce the time spent in registering procedure of the Startups.
- As well a fast system is to be introduced to fill applications for patents for the startups, assured by the Prime Minister Narendra Modi. “There‘ll be no negotiation on the quality however the thought is to provide the new opportunities to the new entrepreneurs’” he included.
- Prime Minister Modi plans to decrease the attachment of the state governments in the initiatives of startups so that the entrepreneurs are able to enjoy liberty.
- No tax will be charged from any startup up to 3 years after its start.
A Short Glimpse on the Startup India Standup India