If your start-up needs funds, then now is the time, because Modi has a brilliant plan up his sleeves!

In the backdrop of PM Narendra Modi’s announcement of ‘Start-Up India, Stand-Up India’, an inter-ministerial, high-level panel will be established, which will scan through startup proposals and see if they can be incentivised.

The ‘Start-Up India, Stand-Up India’ programme will be unveiled on January 16 and will have a slew of incentives for aspiring entrepreneurs.

"On January 16, the government of India will unveil the full action plan of Start-Up India, Stand-Up India. A structure will be presented before you. This programme will be connected to the country's IITs, IIMs, central universities and NITs. Wherever there are youth, they will be linked through live connectivity,” Modi had said in his monthly radio address.

One of the major benefits under this initiative will be reduction in norms needed to establish a business, including approvals and tax breaks.

After the panel approves the plan by entrepreneurs, process of business establishment will start. With Modi’s backing to startups in India, India is expected to generate employment.

So on what basis with the committee approve the plan? Innovation is the answer! The panel will see if the plan will make a cut in future and has innovation.

(Image: Reuters)