State Government Startup Policies In 19 States, Govt Hiding The Worth Stats

After the launch of Start Up India program, 19 state governments out of 29 have implemented the Start up policies with the aim of providing a platform to the budding entrepreneurs in the country. The report was analyzed by TOI , Indian Express, and Citing commerce and industry ministry official statement.

Start up India was launched in January 2016 and in the beginning, only 4 states adopted the same and till now, 19 states have implemented the program according to the commerce ministry. In April, 2016 only 7 states implemented the start up policy.
The initiative was launched by Prime Minister Narendra Modi with some of incentives to boost the start up business, offering them the tax holiday, capital gains tax exemption and inspector raj free regime.
Later in the February, state/UT framework has been launched to encourage the state government to take initiatives to safeguard the interest of budding businessmen in the country. Skill Development Training Provider is available in many states to cater the needs of the students who wants to develop some skills along with their education which will motivate them to become a good entrepreneur.
To promote innovation, the ministry is ready to provide 80% rebate on the patent fees and 50% on trademark filing fees. The angel tax is still the hurdle for the startups. Skill India Consultant is working for the betterment of masses to educate and empower them to work hard and achieve more in an organized manner.
423 patent facilitators and 596 trademark facilitators have been nominated to promote innovation. This imitative has provided benefit to the 671 patent applicants and 941 trademark applicants with 144 expedited examinations.
The ministry said that international cooperation with the country like Israel, Singapore, Portugal and Sweden is also helping the start up entrepreneurs.

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