People from all over the country are rushing towards the government sector jobs for the job security and to avoid the risk that lies in the business sector. But Prime Minister Narendra Modi envisioned something special for the development of the country. He put forward the thought of start-ups in India to encourage the young businessmen and entrepreneurs.
Business world has always been the most risky sector. People don’t want to step into it with the fear of getting under debt and losing all their possessions. The ‘Start-up India, Stand up India’ initiative has been a major support to those upcoming business step-ups that are holding back just because of the risk involved in it. Indeed business world is full of risk and what else any company can gain without taking risks. On 16th January, Prime Minister Narendra Modi disclosed an action plan for the enterprises in India that he pictured for the development of the country. There’s a set of nineteen points in this action plan that would give a boost to the business sector and would prove to be the boon for the enterprises in India. The action plan of ‘Start-up India, Stand-up India’ supports the ventures that will heighten the employment of the upcoming generations and will also help in wealth foundation that will increase the GDP of the country. It is also envisioned to promote the growth of the employment rates in India under the Pradhan Mantri Kaushal Vikas Yojana.
He introduced ‘Self Certification’ that will reduce the regulatory liabilities implementing on to some special laws. The upcoming entrepreneurs will be having access to additional knowledge and financial support. An application is launched by which the start-up founders can register themselves. The application was launched from the 1st of April, 2016. There is a huge amount of investments and funding that will be provided by the government to the start-up ventures. A committee of private professionals will be managing the funds that have to be spent for these ventures depending upon the requirements of the start-ups. The major role is played by the Life Insurance Corporation of India in developing such a huge amount of funding for these new start-ups. The primary- level start-ups are being exempt from the capital gains taxes and there’ll be no income tax payment for three years after the start-up.
The government is not only investing in the start-ups but also encouraging the youth of the country to get up on their feet and grab this mind boggling opportunity. Various entrepreneurship incubators and research parks will be getting established all over the country. This action plan is also trying to support the development of the Biotechnology sector in this business world. People will be provided with legal support throughout the process of start-ups ventures. And not only the government is trying to set you up for the enterprises but if, unfortunately the ventures failed somehow, the government will provide the entrepreneurs with a proper solution. Even that doesn’t work out for the start-ups then the government have an easy way out from it.
And now after the demonetization of the old currency, Prime Minister Narendra Modi has launched a scheme for the common people to open medical stores under government supervision. An initial investment of Rs. 2.5 lakhs will be provided to the person enrolling for this offer. This scheme ensures that the gain of profits after 2 to 3 years. 80% of the total income will be provided to the government and 20% will remain with the registered person. Though this scheme has not been in a rapid development phase but it will soon reach greater heights.
Isn’t this something amazing, something that we all wanted from a very long time? It has been the need of the hour to decrease the risk factor of getting hired. The opportunity is coming right on your doorsteps then why not have the privilege to be the one to hire others. Setting up business was never such an easy task, and now we have the government to back us up for making our own dreams come true.