Essay on Startup India Standup India

Essay on Startup India Standup India (General Essay Topics) – Write an essay on Startup India Standup India in around 250 – 300 Words for students.

Essay on Startup India Standup India

essay on startup india standup india

Startup India Standup India Essay

Essay on Startup India Standup India 300 Words

In order to put some direct emphasis on the youth entrepreneurship and new job creation opportunities for youth, Prime Minister Narendra Modi launched this flagship initiative scheme on 16 January 2016 at Vigyan Bhawan, New Delhi. The objective of this scheme is to make India a hub of innovation, design and startups. This scheme works under the guidance of the Ministry of Commerce and industry.

Under this scheme, many steps were taken by the government such as various types of tax exemption, easy exit policy, self-certification and no inspection by regulatory for 3 years, and creating 75 startup hubs in IIT and NIT. Moreover, to promote a culture of entrepreneurship the government has passed Rs 10,000 crore corpus ‘fund of funds’ for startups, reduced 80% fee of patent filing, made company registration easier and improve ‘ease of doing business’ in the country.

Major advantages of this mission are that it generates massive employment up to 18 lakh persons, create skilled, well experienced and quality entrepreneurs, the revival of economy and improve country’s business-oriented reputation on an international platform.

Some challenges come in the way of startups are lack of capital as bank are reluctant to fund in the lack of collateral security and therefore most of the funding comes from foreign venture capitals.

To conclude, startup India is expected to generate massive employment in India. The government has made huge effort to create a Startup friendly culture in India well the challenges are many but the way India is driving to create a Startup culture it will definitely transform India from a nation of the job seeker to the nation of a job creator.

 

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