Every budding entrepreneur in India was awaited for the disclosure of ‘Action Plan’ of Start Up India. And it was unveiled on Saturday at Vigyan Bhawan auditorium.

This action plan indeed has lot of concessions an programs that will encourage Indians to start their enterprise.

“We have millions of problems. There is no denying that. But we also have a billion minds. And these billion minds will easily find the solutions to the millions of problems,” Modi said during the event.

Below are the key points from the action plan that will promote a culture of entrepreneurship in our country.

1. Rs. 10,000 crore fund allotted for startups

Total Corpus of Rs.10,000 crore for over four years will be drawn by various entities for the investments of start ups. The credit guarantee fund for start-up companies would help flow of venture debt from the banking system to start-ups by standing guarantee against risks. Also  National Credit Guarantee Trust Company/SIDBI will be rolled out with a budgetary corpus of Rs 500 cr per year for the next four years.

2. Tax Exemptions

To boost profit and productivity of start ups, government is providing tax exemptions for three years as well as on there will be tax Exemption on Capital Gains and on Investment above Fair Market Value.

3. Mobile App for registration

The government will start a mobile app as well as online portal on April 1, 2016 which will be single point for all entrepreneurs to register their company as well as for clearance, approval , application under the scheme.

4.  Atal Innovation Mission

Atal Innovation Mission (AIM) is established  for promotion of research and development which will give further impetus to the start up owners. This mission will  include 500 tinkering labs, 35 public-private sector incubators, 31 innovation centers at national institutes, 7 new research parks, 5 new bio-clusters.

5. Start Up Hub- Single Point for the ecosystem

The hub will act as epicenter of the plan where central and state governments, Indian and foreign VCs, angel networks, financial institutes, incubators, legal partners, consultants, universities and R&D institutions will be there to assist start ups.

6. Easy Set Up And  Exit

Start up will self-certify their compliance with nine labor and environmental laws without being inspected, and would receive faster approvals. Plus no regulatory inspection for three years.

7. Faster Exits

The government provided a vital provision for fast-tracking closure of businesses have been included in ‘The insolvency and Bankruptcy Bill 2015’ in order to make  startups to exit easier and faster. Startups which will have simple debt structures will be able to wound up within a period of 90 days.

8. Easier Patent process

Patenting one’s product is one of the major problems for start ups. So to tackle it, government stated in the action plan that there will 80 per cent rebate on filing patent applications by startups. Panel of facilitators to provide legal support and fees for assisting in filing of patent application will be borne by government.

9. Research parks

Research parks which are modeled on research parks in Madras will be set up. Out of seven, six will be set in IITs and one in IISc. These parks will aid start up companies with a research and other facilities.

10. Others

Apart from the above key points, the action plan also included following things

• Relaxed norms of public-procurement for start-ups. No requirement of turnover or experience, but no relaxation in quality.
• Promoting Start-ups in the Biotechnology Sector
• Innovation programs for school students and best ideas will showcased at an Annual Festival of Innovations.

You can check out entire report here.

The post 10 Vital Points of Modi’s Startup India Action Plan That Every Entrepreneur Must Know appeared first on Youngisthan.in.

It’s been 67 long years that he last walked on this earth.

However, no matter what most of today’s generation feels or says about him, the man makes more and more sense in today’s world!

No, not from a political angle or just because he is the Father of the Nation we should follow him and his ideologies. The fact is that his thought process can be safely applied in our day to day lives and we can surely reap rich dividends!

Want to know how?

Let’s share with you some of his major philosophies and how they can help you live a better life!

1) Non-violence

He not only propagates physical non-violence, but also non-violence of the speech and thought! Imagine if we all follow it in our lives while dealing with an irritating boss or stupid traffic jams or our maids, life will become so peaceful. Of course, the major ramifications will be seen in societies leading to better lives for everyone.

2) Make in India

Mr. Narendra Modi might be trying to popularize his own mantra of Make In India, but Mahatma did that all those years ago by talking about making and using our own products. This way, he spoke about self-reliance so that no one can rule us and we don’t become dependent on others while making sure there is prosperity for every citizen of the country!

3) Truth

No matter how much we say that lies are important in today’s world, one should learn to be diplomatic etc etc. we all realize in the bottom of our hearts that how satisfying truth is. Yes, sometimes it hurts, sometimes it spoils relations, but in the long run it is nothing but truth that makes us have a peaceful sleep. Peace is what today’s stressed generation is searching for and it can come only with being truthful, to one self and others!

4) Change

We all talk about how life is changing, things are not the same, they are not good etc., but it is important for us to become the change we want to see in the society. And any change begins with us! This is what Bapu said and it holds true even to this day. Try to change your thoughts, our reactions to things happening around us and see how life changes for the better!

5) Patience

This is by far one of the most important lessons he taught us, in fact reminded us of. No matter how fast our lives are, patience is still a virtue and can go a long way in helping us achieve our dreams and maintain peace and social order in society. Impatience only complicates things and our lives are complicated anyways.

Try to apply his lessons in life and see the positive change. But yes, don’t expect results in minutes or hours! Have patience, good things take time!

The post Five Reasons Why Mahatma Gandhi Is More Relevant In Contemporary Times! appeared first on Youngisthan.in.

Honda’s 2 wheeler division is leaving no stone unturned in its initiative to propel itself to the top position in India as the premier two-wheeler sales king.

Honda has now extended its support for the current Modi Government’s initiative ‘Make in India’ which urges manufacturers to process and assemble their goods within India to enjoy cheap manpower and lessening the burden of import duties on premium goods.

Assembly Within India

Honda has now decided to locally assemble their flagship motorbike, the CBR 650F at their own manufacturing plant in the country. Keita Muramatsu, President and CEO of Honda Motorcycles & Scooters India told the media that, ‘We have plans of introducing the CBR650F in India sometime around July this year. It will be totally assembled in our plant and is a part of the ‘Make in India’ concept being promoted by the government under the PM NarendraModi regime.’

Honda CBR650F

Price Tag

Honda’s decision to launch the 650cc bike in India is because they want to build a segment exclusively for enthusiasts and they plan to introduce about 15 new models within this year. Seven of these models will feature brand new engines and chassis parts. However, there is a catch! The CBR 6650F is expected to be launched at a whopping price tag of around INR 8 lakh.

Enthusiasts and experts expected the price to be lower than quoted. However, localizationof the motorcycle’s assembly would only add to 5% in the initial levels since it would currently be brought down to India as a completely ‘knocked down’ unit. Prices may rise due to demand, but that will be an afterthought after the bike is launched.

Honda Plant Details

Honda currently operates three plants in India, situated in Karnataka, Haryana and Rajasthan. All of them have a capacity of making 4.60 million units in total. A fourth plant is being built in Gujarat and will likely commence production by the year 2016.

Honda CBR650F

Bike Details

Engine Type               649cc, Liquid-Cooled Inline, Four Cylinder

Induction                    PGM-FI Having Automatic Enrichment, 32mm Throttle

Ignition                       Digital Transistorized Enabled With Electronic Advance

Transmission              Six-Speed

Front Suspension       41mm Fork

Rear Suspension        Single Shock With Adjustable Spring Preload

Front Brake                 Dual 320mm Discs

Rear Brake                   Single 240mm Disc

Optional Brake          Honda-ABS (CBR650F ABS)

Fuel Capacity             16 Litre

Colours                       Matte Black Metallic, Red, Candy Blue

For Indians, this is a very exciting development because, global manufacturing giants finally recognize India’s potential in terms of return on interest in locally assembled premium products. Narendra Modi’s government has already spun the cogs in motion, it is time for other companies to also realize the hidden potential of India’s skilled manpower and lesser assemblage costs.

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