STAND UP INDIA, START UP INDIA

This article explains about the two major schemes started by the government of India.

1. ‘ START UP INDIA , STAND UP INDIA’
Startup India
The ‘Start up India scheme’ was announced on 15
th
august, 2015 by the
prime minister Narendra Modi to promote start-up ecosystem in India. It
is focused on to restrict role of States in policy domain and to get rid of
"license raj" and hindrances like in land permissions, foreign investment
proposal, environmental clearances.
Startup India has proved a flagship initiative of the government, which was
intended to build a strong ecosystem for nurturing Startups and innovation in
the country. This will lead to sustainable economic growth as well as
generation of large amount of employment opportunities. The Government,
through this initiative aims to empower Startups to grow through innovation
and design.
Here are the details of Start Up India scheme :-
·Single Window Clearance even with the help of a mobile application
called iMADE.
·80% reduction in patent registration fee
·Modified and more friendly Bankruptcy Code to ensure 90-day exit
window
·Freedom from mystifying inspections for 3 years
·Freedom from Capital Gain Tax for 3 years

2. ·Freedom from tax in profits for 3 years
·Eliminating red tape
·Self-certification compliance
·Innovation hub under Atal Innovation Mission
·Starting with 5 lakh schools to target 10 lakh children for innovation
programme
·new schemes to provide IPR protection to start-ups and new firms
·encourage entrepreneurship.
·Stand India across the world as a start-up hub
Stand Up India
‘Stand up India’ scheme was launched by our Prime Minister Narender Modi
on 5 April 2016 to support entrepreneurship among women and SC & ST
communities. The aim of this scheme is to promote entrepreneurship among
SC/ST and women entrepreneur. The scheme is intended to facilitate at least
two such projects per bank branch, on an average one for each category of
entrepreneur. It is expected to benefit at least 2.5 lakh borrowers in 36
months from the launch of the scheme.
The details of the scheme are as follows:
Focus is on handholding support for both SC/ST and women borrowers.
The overall intent of the approval is to leverage the institutional credit
structure to reach out to these under served sectors of the population
by facilitating bank loans repayable upto7 years and between 10 lakh
and 100 lakh for greenfield enterprises in the non farm sector set up by
such SC, ST and women borrowers.

3. The loan under the scheme would be appropriately secured and backed
by a credit guarantee through a credit guarantee scheme for which
Department of Financial Services would be the settler and National
Credit Guarantee Trustee Company ltd. would be the operating agency.
Margin money of the composite loan would be up to 25 % Convergence
with state schemes is expected to reduce the actual requirement of
margin money for a number of borrowers.
Over a period of time, it is proposed that a credit history of the borrower
be built through Credit Bureaus.

HEENA SONI
B.COM (H) , SECTION-B
2
ND
YEAR , SEMESTER 4
9711707011