New Delhi: Following are the highlights of Action Plan for promoting Start-ups in India announced by Prime Minister Narendra Modi Saturday:
* Three-year income tax exemption
* Tax exemptions on capital gains
* Rs 2,000 cr Credit Guarantee Funds to be set up
* Govt to set up Rs 10,000 crore Fund of Fund
* Public procurement norms to be relaxed
* Self certification-based compliance regime
* Single-point contact for the entire start-up ecosystem
* Mobile App and Portal from April 1
* Legal support, fast-tracking patent examination at low cost
* Patent fees for start-ups to be slashed by 80 per cent
* Faster exit with passage of Bankruptcy Bill 2015
* Lower government involvement in business
* No inspection for 3 years of start-ups
* To bring in sector specific incubators
* Special schemes for women entrepreneurs on cards
(Start-up means an entity with annual turnover not exceeding Rs 25 crore in any preceding financial year).
