First anniversary of PM Modi’s ‘Startup India’: Hits & Misses
Advertisement
Advertisement
ALSO READ: What India can take away from UK’s startup-friendly policies
Around 800 start-ups founded after 2011 have shut shop already, signaling a deteriorating health of the sector, according to data analyst firm Tracxn. The year 2015 had seen an 87 percent increase in the number of
ALSO READ: Exclusive: This food startup is giving competition to Subway with its changing organic menu
Advertisement
The
Hits
1) While initiatives like start up certification, roping in bodies like
2) While the progress is slow, the ecosystem feels much supported as the government put light on their struggles and achievements.
ALSO READ: Flipkart is Number 1 amongst India’s Most Trusted E-Tailing Brands
Advertisement
Misses
1) A lot of entrepreneurs and investors think that demonetization and the lack of exits in start-ups by investors are adding to the gloom; After demonetisation, the investors are afraid to exit their investment due to slump in the IPO (initial public offering) market.
2) Anyone who has business sense knows that only a few of start-ups will be profitable in the first three years and so this handful can avail themselves of the tax break.
3) When it comes to the ‘fund of funds’ under the initiative, Rs500 crore has already been provided as fund corpus in 2015-16 and Rs. 600 crore has been earmarked for 2016-2017.
Cumbersome procedures to access funds from the Rs. 10, 000 Cr. corpus have, however, made the plan a non-starter and
Advertisement
4) There is still no exemption is MAT (Minimum Alternate Tax) which could’ve helped businesses to cut losses.
Budget Expectations
This year’s Budget to be announced next month is expected to be a big one for start-ups.
The startup ecosystem is expecting the government to announce initiatives to support them like:
1) Widening of the tax-free regime to five years from three years
Advertisement
2) Online payments through net banking, Advertisement
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market