On 15th of August, Prime Minister Narendra Modi announced about one of the path breaking campaign to empower youth of India- ‘Start Up India Stand Up India’.
This program is aimed at financing for start-up ventures and offer incentives to boost entrepreneurship and job creation.
The action plan of this campaign will be unveiled on 16 January 2016.
As per PM Modi this campaign will bring a big opportunity for young people across the country not only in manufacturing and service sector but also in small scale and agriculture.
He also said the programme will be designed as per Indian conditions and focus would be on ensuring benefits for the youth from the lowest strata of the society. The initiative will be connected with IITs, IIMs, central universities and NITs as well.
Below are some important pointers related to the campaign :
- What Will Be The Benefits For The Young And Budding Entrepreneurs?
These benefits will be in the form of a reduction in the excess of compliances that is needed to set up business, immediate approvals, easier finance and tax break.
- Who Will Get A Chance?
- Entrepreneurs who have innovative ideas and have unique product are eligible for the benefits.
- If some youth develops something which is innovative and can help masses or make a poor laborer’s life comfortable then he would ask financial institutions to help such people.
- There will be a panel to decide which start up will be given the facilities and there would be an inter-ministerial body to oversee proposals.
- This campaign is for all and not just for city’s youth.
PM Modi said that youth with capabilities are all over India and it will be wrong to say that they can be found in cities only. And that’s why this program will not limited to few cities or places but aims to make it Pan India.
He added, “Youth in every corner of India have talent, they only need opportunity. This ‘Start up India, Stand up India’ should not be limited to a few cities. It should reach every corner of India,”
- This Project Will Be Help Differently-abled Entrepreneurs Too.
During the latest Man Ki Baat program he mentioned that initiative is also for disabled people. He has coined new term called “Divyang” which means people with extra ordinary skills
He believed that most of the times it has been seen that differently- abled people have great capabilities than normal people.
- Also Eyeing To Aid Adivasis/Dalits/Women Entrepreneurs As Well.
PM Modi also mentioned in the speech that “Start-Up India” initiative will also encourage atat least one Dalit or Adivasi entrepreneur, and at least one woman entrepreneur and each of 1.25 lakh bank branches for the same will aid them.
- This initiative is not confined to tech and IT but spreads to other sectors as well.
As per Modi, this initiative will be about IT or digital world but any innovation by commoner will be assisted to start their venture.
Right now India is among five largest start-up communities in the world and these start ups have created more than 80,000 jobs in India, as per NASSCOM.
We think that his proposition will boost entrepreneurship and job creation and can make India Start Up Capital in the world.
But we would also like to hear your views and suggestions on this imitative? What are your expectations?
Will this campaign help India to be number one Start up Nation? Will it actually help entrepreneurship and job opportunities?
Let us know your comments below.