In a speech peppered with references to startups and MSMEs, Finance Minister Arun Jaitley in his Budget presentation for 2016-17 had a series of policy initiatives and schemes that aimed at easing the hurdles that startups face and ensuring MSMEs in the country get a boost. Launching the Startup …
Tag: Narendra Modi
SIDBI to raise Rs 10,000 Crore Stand up India fund corpus from RBI
The Small Industries Development Bank of India (SIDBI) will be raising the proposed Rs 10,000-crore corpus for ‘Stand Up India Fund’ from RBI, which will be disbursed to Dalit and women entrepreneurs, a top official said. “We are working to have the corpus in place for the Stand…
Indian railways mull incubators to promote start-ups
Indian Railways, owner of India’s largest online e-ticketing marketplace Indian Railway Catering and Tourism Corporation (IRCTC), plans to dive into the start-up ecosystem. With an initial fund allocation of Rs 50 crore, it plans to start incubators where its employees would get assistance to ope…
Start-ups up to Rs 25 Cr turnover to get tax sops
A company with an annual turnover of less than Rs 25 crore in the first five years will be eligible for conditional tax breaks and other incentives under the government’s start-up policy. According to the definition notified by the department of industrial policy and promotion (DIPP), an entity …
MSME Growth to be New Mantra of Govt | President Pranab Mukherjee
President Pranab Mukherjee has indicated MSME development, which has large-scale job creation potential, will be the new mantra of the Prime Minister Narendra Modi Government which presents its second full budget on February 29. In his address to the joint sitting of Parliament, Mukherjee said Mo…
Govt notifies uniform norms for startups
The government has come out with a uniform definition of startups under which a budding entrepreneur with a turnover of less than Rs 25 crore can avail tax breaks and other benefits for a five-year period. Notifying the definition, the Department of Industrial Policy and Promotion (DIPP) said it …
SIDBI okays Rs 600 crore under India Aspiration Fund
The Small Industries Development Bank of India (SIDBI) has approved Rs 600 crore under the India Aspiration Fund so far, said the Joint Secretary and Chief Vigilance Officer, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Shailendra Singh on February 21 Singh pa…
Deserving companies to draw benefits of ‘Startup India action plan’
The government has set out the definition of a ‘startup’ to ensure that only deserving companies draw the benefits of its ‘Startup India Action Plan’ and to “create a conducive environment for startups in India”. As per a government notification, ‘startup…
‘Silicon Valley Spirit’ guides policy-makers, Start-Ups look for a deal
Start-ups have little doubt that this Union Budget will deliver. But they are keeping their fingers crossed for much more; they hope their freedom is not curtailed by reams of policy. Setting the tone, Prime Minister Narendra Modi had decisively looked at Finance Minister Arun Jaitley at Vigyan B…
Innovation is key for Make In India’s success | Aequs CEO
Aravind Melligeri, Chairman and Chief Executive Officer of Aequs Pvt. Ltd, a Karnataka-based aerospace parts maker, shares his views on the Narendra Modi government’s flagship Make in India programme. Edited excerpts: The Make in India initiative of the government is focused on 25 sectors that al…