A Happy new year to startups?

Thu, Dec 31, 2015

In Focus

Indian government has shown signs of trust in startups to bolster growth in the economy. Government hopes that creating a startup-friendly environment will lead to creation of more jobs. With this plan, Government is set to announce “Start-Up India, Stand Up India” on January 16, 2016. Currently, the red tape of compliances required to set up businesses, delayed approvals, tax pressures, etc act as deterrent to budding entrepreneurs to some extent. The initiative will consist of a high-level, inter-ministerial panel that will decide whether a startup qualifies for incentives according to its proposal.

Secretaries of Information Technology, Biotechnology and others will comprise the panel. This initiative will be linked to leading educational institutes of India. Let’s hope that the “Start-Up India, Stand Up India” will stand up to the expectations of entrepreneurs. It will be one of the first interesting news to look for in 2016.

By- Utkarsh Maurya

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