Startup schemes in India

Startup Schemes in India:

Startup Schemes in India is launched by the Indian Government. The main purpose of these schemes is to promote trade and entrepreneurship which can bring employment and job forward in the country.

The main objective of the Startup India Scheme is to add young people with a new generation and new ideas from which they can make themselves worth employment. After being registered with the Startup India Scheme, there are many advantages, there is no difficulty in doing business and it becomes easier.

Prime Minister of India Narendra Modi had announced the program “Stand Up India, Start Up India” on 15th August 2015 from the Red Fort.

If you want to start a small business but you are not able to start due to financial constraints and lack of facilities and guidance, the Startup India Schemes by the Central Government are very good for you.

Let us find out more details of these schemes:

Modi Government’s plan “Start Up India” has begun to encourage youth and help them to collect facilities at the grassroots level. These schemes are launched by the Finance Minister Mr. ArunJaitley.

What is the purpose of the plan?

The purpose of this scheme is to help entrepreneurs to start their own small businesses. It not only provides the facility of the loan but along with appropriate guidance, you are also told about a simple business policy. Not only this, but you are also given Skill Development Training under this scheme.

What are the benefits of the plan?

This plan is beneficial for those who want to start their own business. Financial help is given to those who wish to start a business and at the same time, they get tax rebates along with this financial help.

However, before starting your own Startup you should take following points into the consideration.

What’s the product?

Before starting any Startup, be sure to check that the market you are going to start is not needed or not. Yes, if another product similar to your product already exists in the market, then you have to pay attention to what would be special in your product that is not in any market.

How about your team?

What is the team that works with you to fulfill the purpose for which you are going to start your startup, this matter matters most.

How much money should be there?

You should make sure that you have at least enough money to run your work without any tension for five to six months. First of all, arrange this money. The government gives financial help to increase business. Under the standup scheme loans from SCs / STs and women, entrepreneurs from Rs 10 lakh to Rs 1 crore are given on behalf of banks.

What are the advantages?

When you start your own business under the Startup India Schemes, for the first three years, no official will inspect your business with your startup. In addition, you will also get a discount in Capital Gain Tax for the first three years, especially women will also get a discount on profits.

Why should you start your business under Startup India Schemes?

This is the best time to start a startup in the country. The world is changing rapidly. Everything is going online. Your good idea can not only be a reason for the change but can also be an opportunity for millions of people. Snapdeal, Paytm, Flipkart, Oyo Rooms and Ola are examples of India.

Registration for startup will also be made easier. For instance, any Startup can be able to register itself on the web portal or mobile app.

Here are some of the Startup Schemes launched by the government of India:

  1. Mudra Yojna:

Mudra Yojna is Micro Units Development Fund Refinance Agency. This scheme has been started by GOI to bring benefits to small manufacturing units and shopkeepers. The announcement was made by the Finance Minister in the union budget in the year 2016.

In order to meet the needs of this startup scheme, the bank has introduced the following three instruments.

Shishu: In this, you can apply for the loan up to Rs, 50,000

Kishor: In this, you can apply for the loan from Rs, 50,000 to 5 lakhs.

Tarun: In this, you can apply for the loan from 5 lakhs to 10 lakhs.

  1. Pradhan Mantri Kaushal VikashYojna (PMKVY):

We have 605 million people less than 25 years of age. If this young community is not provided employment, then it can take the country back rather than pursue it. Keeping this in view, the Prime Minister Skill Development Scheme was started on July 16, 2015.

Who can participate in this scheme?

The youth who complete the special program will be given a certificate from the Ministry. After obtaining a one-time certificate, all public and private, even foreign organizations, institutions and enterprises will also be considered.

The procedure of PMKVY:

  • Find a training center in your area, assessed by PMKVY, which provides the skill development course of your choice.
  • Use the website of http://skillindia.gov.in/, call 08800-55555 or participate in skill development camps organized in your constituency.
  • People are warned to be cautious about unauthorized non-accredited training centers. If this plan is violated in some way, please do not hesitate to file a complaint online through the complaint settlement portal.
  1. Pradhan MantriRojgarSujanKaryakram (PMEGP):

This new scheme is merged with previous PMRSY and REGP schemes and a national-level loan related subsidy schemes. Under this program, a person can apply for Rs. 10 lakhs for micro-enterprises and Rs. 25 lakhs for manufacturing units. Also, they will get a 25% subsidy of their total project cost.

Startup Schemes Eligibility:

  • Your business should be registered partnership company or a private limited company, or a limited liability partnership.
  • Your business should be working towards improving new ideas, developments, services, processes, and products and it should be an ideal business having the potential to create jobs or to have more potential to make money.
  • Your turnover should not exceed Rs. 25 crores in any period of the year.
  • Your organization must not have already formed a business by distributing or rebuilding a business.

 

If you require any further details in schemes available for startups, kindly contact us partners@agacas.com

R. K. Narayan (10 October 1906 – 13 May 2001),[1] full name Rasipuram Krishnaswami Iyer Narayanaswami, was an Indian writer known for his works set in the fictional South Indian town of Malgudi. He was a leading author of early Indian literature in English along with Mulk Raj Anand and Raja Rao.

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