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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Norms Relaxed for Startup MSMEs
Mar 16, 2016

Government has decided to relax the norms for Startup MSMEs. According to the decision, if the MSMEs can deliver the goods and services as per prescribed technical & quality specifications, the norms on prior experience and prior turnover will be relaxed for them.

  • This will help the Startup MSMEs to take part in the mandatory 20% public procurement from MSMEs.
     
  • The relaxation has been made to create a conducive environment for the startups in India, which is high on the agenda of the Government.
     
  • To ensure better implementation of Quality Management Standars/Quality Technology Tools scheme under the National Manufacturing Competitiveness Programme of the Government, Ministry has decided to conduct two International Study Missions in colloboration with Confederation of Indian Industry and Consultancy Development Corporation during this year as well as in the next financial year.
     
  • 100 Awareness Campaigns will be organised in the States across the Country through MSME-DIs and other Expert Organisations in the next financial year.
     
  • 4 Metro Level Workshops at Delhi, Chennai, Mumbai, Kolkata and one National Level Workshop at Delhi will be organised in the next financial year.


What is a Startup?

A startup is a company that is in the first stage of its operations. These companies are often initially bank rolled by their entrepreneurial founders as they attempt to capitalize on developing a product or service for which they believe there is a demand. Due to limited revenue or high costs, most of these small scale operations are not sustainable in the long run without additional funding from venture capitalists.

Key Features of Indian Startup Plan

  • Compliance regime based on self certification
     
  • Startup India hub
     
  • Simplifying the startup process
     
  • Patent protection
     
  • Funds of funds with a corpus of Rs 10,000 crore
     
  • Credit Guarantee Fund
     
  • Exemption from Capital Gains Tax
     
  • Tax exemption for startups
     
  • Tax exemption on investments above Fair Market Value
     
  • Startup fests
     
  • Launch of Atal Innovation Mission
     
  • Setting up of 35 new incubators in institutions
     
  • Setting up of 7 new research parks
     
  • Promote entrepreneurship in biotechnology
     
  • Innovation focused programmes for students
     
  • Panel of facilitators to provide legal support and assist in filing of patent application
     
  • 80 per cent rebate on filing patent applications by startups
     
  • Relaxed norms of public procurement for startups
     
  • Faster exits for startups


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