Prime Minister Narendra Modi on Saturday unveiled action plan for start-up India at Vigyan Bhawan in New Delhi. Before revealing main highlights of it he personally met entrepreneurs and talked about the creative ideas they evolved.
Here are five key points from PM Modi’s action plan for start-ups:
1: Start-ups to get 3-year income tax holiday; Capital gains tax to be exempted for venture capital investments.
2: A dedicated fund with Rs 10,000-crore corpus will be created for funding of start-ups.
3: Modi announces 80 pc reduction in patent fee for start-up businesses.
4: No inspection for 3 years of start-up businesses in respect of labour, environment law compliance post self-certification.
5: Self-certification based compliance system in respect of 9 labour and environment laws introduced for start-up business.