Attempting to boost entrepreneurship at the grassroots level, Prime Minister Narendra Modi has said the Action Plan of the ‘Start-up India, Stand-up India’ will be unveiled on January 16 and urged the states to help spread this campaign across the country’s nook and corner.
Modi announced about the campaign in his last Independence Day address. Start-up India will be designed to suit Indian conditions and focus to ensure benefits for the youth from the lowest strata of the society. These benefits will be in the form of a sharp reduction in the plethora of compliances now needed to set up businesses, easier finance, swifter approvals, and tax breaks.
Modi had signposted the coming announcement in his Mann Ki Baat radio address on Sunday. “On January 16, the government of India will unveil the total action plan of Start-up India, Stand-up India,” the Prime Minister had said. This programme will be connected to the country’s IITs, IIMs, central universities NITs and Indian youth through live connectivity.
Start-up India panel will decide if the ideas are good enough to make the cut they get from entrepreneurs. It will be anchored by the Department of Industrial Policy and Promotion (DIPP) and will meet every fortnight to decide on proposals. “Innovation will be the key in any idea,” an official spoke.
The push behind the plan stems from the belief that it will generate vast employment numbers that will raise incomes and act as an engine of growth. Policymakers are of the view that these businesses can prove to be game changers in terms of job creation.