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Last Updated Wednesday May 22 2019 03:30 PM IST

Start-ups Action Plan: Here are the highlights

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Start-ups Action Plan: Highlights Prime Minister Narendra Modi gestures as he speaks during the announcement of the Start-ups Action Plan in New Delhi on Saturday. AFP

Prime Minister Narendra Modi on Saturday unveiled the much-awaited Start-ups Action Plan in New Delhi while launching the ambitious 'Startup India' campaign to boost digital entrepreneurship at the grass-roots level. Addressing the first conference of start-up entrepreneurs, Modi announced an action plan to boost such ventures which are seen as key to employment generation and wealth creation. Following are major policy highlights of the Start-ups Action Plan.

♣ Income Tax exemption for first three years

♣ Tax exemption on capital gains

♣ No inspection of start-ups for three years on labour and environment law compliance post-self certification.

♣ No interference from government

♣ Compliance regime based on self-certification

♣ Single point of contact for Start-up India hub

♣ Corpus of Rs.10,000 crore through Fund of Funds

♣ 80 percent rebate in patent costs

♣ Norms to be relaxed for public procurements

♣ Faster patent registration and protection for IPRs

♣ Faster exit through a new bankruptcy law

♣ Mobile app will be launched to register start-up in a day

♣ Atal Innovation Mission to give impetus to innovation and encourage talent. (With agency inputs)

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