Start Up India essay or Stand Up India Essay for Class 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 and 12. Find paragraph, long and short essay on Start Up India for Students.
Essay on Start Up India 250 – 300 words
Essay on Start Up India 250 Words
“We want to enable Start-Ups and make India no. 1 in this field.”- Narendra Modi
Above statement was said by our PM Narendra Modi during his 15th August 2015 address from the Red Fort. This scheme was formally launched on 16th January 2016 by finance minister Arun Jaitley. It is a flagship scheme which seeks to create a strong ecosystem for nurturing innovation and startups in the country.
Start-up is defined as that entity which is less than 5 years old, turnover does not exceed over 25 crores and working towards innovation, commercialization of new products and gives employment to people. This scheme has some key features like profits of start-ups are tax-free for 3 years, no labour inspections for 3 years after the launch, easy exit policy for start-ups within 90 days.
The government has announced Rs 10,000 crore funds of funds to provide funding support to start-ups. The central government will set up 35 new incubators, 31 innovation centres at national institutes. The government has also started many other schemes like Uchhattar Avishkar Yojana, Atal Innovation Mission to boost the start-up scheme.
However there are many challenges to this scheme like lots of approvals is needed to start the start-ups, weak ecosystem, high failure rate etc. The government should work on these fronts.
This scheme will change the whole ecosystem of startups in the country because it is largely teeming with youngsters who are fresh tech graduates. These graduates who earlier went to western countries for work now will stay in India. This will help to create India as an innovation hub.
