The states will play the catalyst role in Prime Minister Narendra Modi’s Start-up India plan, which has been launched last week along with an action plan to help startups get easy entry, functioning and exit norms.
NITI Aayog vice-chairman Arvind Panagariya told The Financial Express that the states will be at the centre-stage of the Start-up India plan and the Centre will capitalise on the experiences of different states in promoting startups.
Panagariya pointed out that Kerala is doing a good job in promoting incubators and it is the examples of this type that will be promoted and also replicated in other states through Start-up India. He added that the “tinkering labs” to be set-up will also come up in the state universities.
On the proposed special fund for NITI Aayog, though Panagariya declined to comment on whether it will be announced in the Budget or not, he stressed that such a fund could be utilised for promoting specific reform measures such as digitisation of land records in the states.
The NITI Aayog vice-chairman also said that the government is on the course of fiscal consolidation despite a tough global situation and it needs to enhance both the direct and indirect tax base going ahead.