1. ‘Start-up India’ action plan to be unveiled on Jan 16: PM Narendra Modi

‘Start-up India’ action plan to be unveiled on Jan 16: PM Narendra Modi

Prime Minister Narendra Modi said on Sunday a full action plan of the 'Start-up India, Stand-up India’ programme, aimed at providing fresh impetus to entrepreneurship at the grass-root level, will be announced on January 16.

By: | New Delhi | Published: December 28, 2015 12:27 AM

Prime Minister Narendra Modi said on Sunday a full action plan of the ‘Start-up India, Stand-up India’ programme, aimed at providing fresh impetus to entrepreneurship at the grass-root level, will be announced on January 16.

In his monthly ‘Mann ki Baat’ radio programme, Modi said, “A structure will be presented before you. This programme will be connected to the country’s IITs, IIMs, central universities and NITs. Wherever there are youth, they will be linked through ‘live connectivity.”

The Prime Minister had made the announcement about ‘Start-up India’ in his Independence Day address earlier this year. The programme will be designed specifically for Indian conditions and due emphasis would be on ensuring gains for the youth from the lowest strata of society, he added.

The programme seeks to promote financing for start-up ventures and providing incentives to further boost entrepreneurship, manufacturing and job creation. Each of the 1.25 lakh bank branches should encourage at least one Dalit or Adivasi entrepreneur, and at least one woman entrepreneur, the Prime Minister had said in his Independence Day speech.

“Can India be a ‘Start-up Capital’? Can the youth in the states have the opportunities in the form of start-ups, with innovations, whether it be manufacturing, service sector or agriculture? In everything, there should be freshness, new ways, new thinking. The world cannot move ahead without innovation,” Modi added.

Affirming that it was wrong to think that reservoirs of knowledge are confined to only some cities, the Prime Minister said the youth with abilities are spread all over the country.

“They want opportunities. This ‘Start Up India, Stand-up India’ should not be limited to only some cities but spread to every nook and corner of the country. In this context, I urge the states also to push this campaign. On January 16, I will be with you to give a detailed overview of the campaign,” he said.

Tags: Start-ups
  1. H
    Hemen Parekh
    Jan 10, 2016 at 6:06 am
    A NEW ECONOMIC ORDER ? You may also call it , " Start Up Act - 2015 " # Objectives of the Act Every year , to create 5 million Start Ups , each employing 2 persons , for a total of 10 million new jobs per year # Methodology * Instead of Companies Act - 1956 , these Start Ups will be governed by the Start Up Act - 2015 * A Start Up can be launched by any Indian citizen under the age of 30 ( covering roughly 65 % of our potion ) * A Start Up will need to register online on the web site of the Income Tax Department and obtain a unique " Start Up Number " * Although all Start Ups will need to file annual Income Tax returns ( with full disclosure of income / expenses / profits / sources of funds etc ) , it will not be required to pay any Corporate Income Tax for the first 10 years of its existence * A Start Up will be free to raise funds from any source ( Individuals / Companies / PE funds / VCs / Angel Investors / Religious Trusts etc ) * 100 % FDI will be permitted in Start Ups * A Start Up can receive loans or equity and be able to accept fixed deposits . It can also give loans to individuals or other Start Ups or invest in other Start Ups by way of equity * There will be no restrictions on what interest ( on loans / FDs ) that a Start Up may pay nor any restrictions on dividends it may declare The dividends declared by Start Ups will not attract any Income Tax * As far as the persons / companies etc providing funds to Start Ups ( by way of loans or equity ) is concerned , no questions will be asked re their source of funds # What will happen ? * Billions of rupees worth Black Money will flow into these Start Ups - money which is currently lying unutilized or locked up in unproductive ets * If Jan Dhan Yojana could create 200 million bank accounts in 20 months , Start Up Act - 2015 , will create 200 million Start Ups in next 10 months ! All that led to this World record created by Jan Dhan Yojana was , someone suggesting the unthinkable : " Let us enable poor people to open bank accounts with ZERO bank balance " " Start Up Act- 2015 ", will unleash a similar " Start Up Tsunami " ! * Within 3 months , thousands of Venture Capital Funds will be born , exclusively for funding of Start Ups ( You know who will set up these VCs ! ) * With NO Income Tax to be paid , Start Ups will conduct all transactions through cheques ( receipts / payments ) * GST collections will go up * Domestic Savings Rate will go up * Since millions of ( Black Money holding ) individuals / businesses will come forward to fund these Start Ups , lending pressure on banks will go down * Who knows , Start Ups may get into the business of ets Reconstruction and relieve banks of NPAs ! * With locally / domestically stashed Black Money flowing into the economy , our dependence on FDI will go down * Corruption will decline drastically # Why the need for Start Up Act ? It is simple In the past 300 years , we have had different systems of Economic Development , viz: Communist / Socialist / Capitalist There were periods when each worked well - depending upon the geography and the technological environment prevailing during those periods Today, Internet and mobile apps are pushing the World towards an E - Commerce economy , which covers entire World seamlessly Tomorrow , Internet of Things ( IoT ) , will tell us what we need to do and when ! Our lives will be dictated by devices ! That will demand a b NEW SYSTEM of economic development which transcends national boundaries Old rules / regulations / laws will not help us find jobs for 12 million youths entering India's work force each year An ocean-going " Ship " , cannot traverse galactic distances of Space Following in the footsteps of Albert Einstein / Stephen Hawking , we need to " Bend the Space " And travel through the Worm-s ! Using the hologram of the " Start Up Act - 2015 " , we must project our economy into : " Distributist Economy ", which goes beyond the " Communist / Socialist / Capitalist " economies ! That is the ONLY WAY to create a , " New Economic Order / The Start Up Economic Order " Last - but not the least : No politician will oppose the unanimous ping of the " Start Up Act - 2015 " , in Lok Sabha or Rajya Sabha You know why ! ------------------------------------------------------------------------- hemen parekh 13 Sept 2015 >Blogs
    Reply
  2. H
    Hemen Parekh
    Jan 3, 2016 at 6:25 am
    A NEW ECONOMIC ORDER ? You may also call it , " Start Up Act - 2015 " # Objectives of the Act Every year , to create 5 million Start Ups , each employing 2 persons , for a total of 10 million new jobs per year # Methodology * Instead of Companies Act - 1956 , these Start Ups will be governed by the Start Up Act - 2015 * A Start Up can be launched by any Indian citizen under the age of 30 ( covering roughly 65 % of our potion ) * A Start Up will need to register online on the web site of the Income Tax Department and obtain a unique " Start Up Number " * Although all Start Ups will need to file annual Income Tax returns ( with full disclosure of income / expenses / profits / sources of funds etc ) , it will not be required to pay any Corporate Income Tax for the first 10 years of its existence * A Start Up will be free to raise funds from any source ( Individuals / Companies / PE funds / VCs / Angel Investors / Religious Trusts etc ) * 100 % FDI will be permitted in Start Ups * A Start Up can receive loans or equity and be able to accept fixed deposits . It can also give loans to individuals or other Start Ups or invest in other Start Ups by way of equity * There will be no restrictions on what interest ( on loans / FDs ) that a Start Up may pay nor any restrictions on dividends it may declare The dividends declared by Start Ups will not attract any Income Tax * As far as the persons / companies etc providing funds to Start Ups ( by way of loans or equity ) is concerned , no questions will be asked re their source of funds # What will happen ? * Billions of rupees worth Black Money will flow into these Start Ups - money which is currently lying unutilized or locked up in unproductive ets * If Jan Dhan Yojana could create 200 million bank accounts in 20 months , Start Up Act - 2015 , will create 200 million Start Ups in next 10 months ! All that led to this World record was , someone suggesting the unthinkable : " Let us enable poor people to open bank accounts with ZERO bank balance " " Start Up Act- 2015 ", will unleash a similar " Start Up Tsunami " ! * Within 3 months , thousands of Venture Capital Funds will be born , exclusively for funding of Start Ups ( You know who will set up these VCs ! ) * With NO Income Tax to be paid , Start Ups will conduct all transactions through cheques ( receipts / payments ) * GST collections will go up * Domestic Savings Rate will go up * Since millions of ( Black Money holding ) individuals / businesses will come forward to fund these Start Ups , lending pressure on banks will go down * Who knows , Start Ups may get into the business of ets Reconstruction and relieve banks of NPAs ! * With locally / domestically stashed Black Money flowing into the economy , our dependence on FDI will go down * Corruption will decline drastically # Why the need for Start Up Act ? It is simple In the past 300 years , we have had different systems of Economic Development , viz: Communist / Socialist / Capitalist There were periods when each worked well - depending upon the geography and the technological environment prevailing during those periods Today, Internet and mobile apps are pushing the World towards an E - Commerce economy , which covers entire World seamlessly Tomorrow , Internet of Things ( IoT ) , will tell us what we need to do and when ! Our lives will be dictated by devices ! That will demand a b NEW SYSTEM of economic development which transcends national boundaries Old rules / regulations / laws will not help us find jobs for 12 million youths entering India's work force each year An ocean-going " Ship " , cannot traverse galactic distances of Space Following in the footsteps of Albert Einstein / Stephen Hawking , we need to " Bend the Space " And travel through the Worm-s ! Using the hologram of the " Start Up Act - 2015 " , we must project our economy into : " Distributist Economy ", which goes beyond the " Communist / Socialist / Capitalist " economies ! That is the ONLY WAY to create a , " New Economic Order / The Start Up Economic Order " Last - but not the least : No politician will oppose the unanimous ping of the " Start Up Act - 2015 " , in Lok Sabha or Rajya Sabha You know why ! ------------------------------------------------------------------------------------- hemen parekh 13 Sept 2015 >Blogs
    Reply

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