Startup India – Nestling a new breed of entrepreneurs
In 2014, the hitherto Prime Minister candidate of the National Democratic Alliance, Mr Narendra Modi was very much focused to lure the youth. All his speeches used to possess a chunk of enthusiasm which would reverberate with the needs of the millennial. He used to talk about developing an environment conducive to creating job-creators rather than job-seekers. He brought a new wave of optimism to the pessimist young populace who were facing the heat of “policy paralysis”.
Above all, his slogan “Achhe din aane wale hain”, kindling a sanguineness among blooming population, used to be the centre of attraction. Mr Modi was, after late Rajiv Gandhi, someone who manifested himself as the new youth icon despite being a sexagenarian. The medley of these traits made him the blue-eyed boy of young voters. As expected, he went on to become the PM by virtue of his huge popularity.
Business Connect, one of the best business magazines in India, has come up with its latest findings of the working of present government. Now, after more than four years of his stable government, has he really delivered on his promises? The current ambience seems to be working in his favor. Since the very beginning of his tenure, he has quite heavily focused to ‘fork over’ his promises. This can be corroborated by his several contrivances. Among those many plans, “Startup India” has been one of the most talked about due to its underlying applications for budding entrepreneurs.
It has provided a platform to the erstwhile bereaved people who were the victim of ignorance. Most of the time, despite having innovative ideas, aspiring entrepreneurs were compelled to give up on their startup plans. The reason used to be the lack of investment and the dull attitude of banks. But after the strong pitch of honorable Prime Minister, the lacklustre attitude of banks has improved a lot. Banks have now become more approachable than ever. You just need to have something out-of-the-box which could drive the investors crazy. If you got a unique idea, the government is certainly going to help you out with all its might.
Business Connect, the top business magazine in India, has tracked some of the key outcomes of this new wave of entrepreneurship. Since the inception of this program in 2016, it has given opportunities to some of the most ignored regions that primarily include North-East India and border areas. A whole lot of aspiring entrepreneurs have got the benefits of this youth-oriented scheme. The biggest leeway for entrepreneurs has been in the form of tax exemption. An entrepreneur generating the turnover of fewer than 25 crores is entitled to complete exemption for the first three years of operation. This is immensely helpful for such entrepreneurs who are starting from the scratch and who have to deal with many firsts such as hiring, machinery and infrastructure etc.
Not only this, the initiative is getting helping hand of many seasoned veterans who come from all walks of life. These experts include agriculturalists, aeronautics, scientists, credit rating experts and many more. They report to concerned ministries in order to take note of the intricacies. This speaks volume about the efforts Mr Modi is taking to set a good example for our burgeoning business leaders.