Start-Up India plan on Jan 16: Modi on Mann ki Baat

PM Modi said the 'Start-up India, Stand-up India' campaign has brought new opportunities for the youth.

By: Express News Service | New Delhi | Updated: December 28, 2015 2:24 am
start up stand up india, modi mann ki baat, mann ki baat PM Modi said the ‘Start-up India, Stand-up India’ campaign has brought new opportunities for the youth. (PTI Photo)

‘Start-up India Stand Up India’, a new initiative that Prime Minister Narendra Modi spoke about during his Independence Day speech this year, will be the government’s New Year gift to “young people” who want to set up new businesses or innovative projects.

The government will formally launch the initiative on January 16 in an event that will see the participation of all major higher educational institutions through online connectivity, the Prime Minister said in his Mann ki Baat programme on All India Radio.

“On August 15, I had made an initial mention of ‘Start-Up India Stand Up India’. After that it has been discussed in all government departments. Can India become the start-up capital of the world? On January 16, the government will launch the full action-plan of ‘Start-up India Stand Up India’. I will come before you to discuss this in detail and would welcome your suggestions. I would request the state governments as well to take this forward,” said Modi.

The initiative was not just about the IT or digital world, but an effort to assist people starting new business ventures, especially those that involved innovation, said Modi.

“A poor person somewhere uses manual labour to earn a living. Some other young individual may create something new and innovative that can make the work of the poor labourer slightly easier. I will say even this is a start-up. I will tell the banks to support such individuals. I will tell the individual that he must move head. ‘Start-up India Stand Up India’ will bring a big opportunity for young people across the country, be in manufacturing, service sector or agriculture,” said Modi.

The Prime Minister said there was no lack of talent amongst the youth of the country, and added that all IITs, IIMs, central universities, NITs and other institutions will be connected live to the launch event.

Four days after Modi’s Independence Day speech, Finance Minister Arun Jaitley had launched two funds by the Small Industries Development Bank of India (Sidbi): India Aspiration Fund for start-ups with the LIC as partner and co-investor, and Sidbi Make in India Loan for Enterprises (SMILE) to provide soft term loans and loans in the nature of quasi-equity to small enterprises.

According to the World Bank’s Doing Business Report 2016, India moved up nine spots in the starting a business category to 155 but slipped six spots in terms of ease of accessing credit to 42. This implied that it has become more difficult to get loans in India, especially for start-ups and the medium and small scale enterprises.

In his radio programme, the last for this year, Modi also spoke about progress on other schemes being run by his government. He said that the Direct Benefits Transfer scheme — it was launched by the previous government — had got a place in the Guinness Book of World Records for the largest such scheme. Modi said about Rs 40,000 crore was being deposited directly in the bank accounts of 15 crore beneficiaries of about 35 to 40 government programmes.

Talking about the ‘Sugamya Bharat Abhiyan (Access India Campaign)’ for people with disabilities, Modi urged everyone to use the word ‘Divyang’ (people with a divine limb) instead of ‘vikalang’ (disabled) while referring to such people.

“Several words have been coined for such people, sometimes handicapped is used, sometimes disabled, sometimes specially abled. Words have their own importance. But all of us who have seen these people working and carrying on with their lives realise that if they are disabled with one limb they are also specially gifted with some other sense or limb. We often wonder how they are able to accomplish their tasks despite being disabled. They must be having some extra power. That is why I feel we should refer to them as ‘divyang’ (people with divine limbs). It seems they have one or more limbs that has divine powers, divine energy. I like this word a lot. I hope my countrymen would also make this word popular,” he said.

“We have just launched the ‘Sugamya Bharat Abhiyan (Accessible India Campaign). We aim to ensure that all infrastructure, physical and virtual, would be improved to make them more accessible for divyang people. Schools, hospitals, government offices, bus stations, railway stations.. ramps, accessible parking, accessible lifts, development of Braille.. .there are so many things to be done. It would require innovation, technology, arrangements, sensitivity,” said Modi.

The Prime Minister also invited people to provide feedback through the ‘Narendra Modi app’, a remark that invited sarcastic comments from the Congress party.

Congress spokesperson Tom Vadakan said that app would hopefully help the Prime Minister address the concerns of the poor, unemployed and women. “He is a very busy man. He has to travel… so we are very happy that he has announced this app… now you have an app in place which can ensure that there is communication between him and the people of India,” said Vadakkan.

“The farmers can reach out to the Prime Minister directly to address their grievances, unemployment can be addressed through this app. If there is a disturbing situation, like a riot, or incidents of intolerance, one can seek the Prime Minister’s help directly,” he said.

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              Hemen Parekh
              Jan 3, 2016 at 6:05 am
              A NEW ECONOMIC ORDER ? You may also call it , " Start Up Act - 2015 " # Objectives of the Act Every year , to create 5 million Start Ups , each employing 2 persons , for a total of 10 million new jobs per year # Methodology * Instead of Companies Act - 1956 , these Start Ups will be governed by the Start Up Act - 2015 * A Start Up can be launched by any Indian citizen under the age of 30 ( covering roughly 65 % of our potion ) * A Start Up will need to register online on the web site of the Income Tax Department and obtain a unique " Start Up Number " * Although all Start Ups will need to file annual Income Tax returns ( with full disclosure of income / expenses / profits / sources of funds etc ) , it will not be required to pay any Corporate Income Tax for the first 10 years of its existence * A Start Up will be free to raise funds from any source ( Individuals / Companies / PE funds / VCs / Angel Investors / Religious Trusts etc ) * 100 % FDI will be permitted in Start Ups * A Start Up can receive loans or equity and be able to accept fixed deposits . It can also give loans to individuals or other Start Ups or invest in other Start Ups by way of equity * There will be no restrictions on what interest ( on loans / FDs ) that a Start Up may pay nor any restrictions on dividends it may declare The dividends declared by Start Ups will not attract any Income Tax * As far as the persons / companies etc providing funds to Start Ups ( by way of loans or equity ) is concerned , no questions will be asked re their source of funds # What will happen ? * Billions of rupees worth Black Money will flow into these Start Ups - money which is currently lying unutilized or locked up in unproductive ets * If Jan Dhan Yojana could create 200 million bank accounts in 20 months , Start Up Act - 2015 , will create 200 million Start Ups in next 10 months ! All that led to this World record was , someone suggesting the unthinkable : " Let us enable poor people to open bank accounts with ZERO bank balance " " Start Up Act- 2015 ", will unleash a similar " Start Up Tsunami " ! * Within 3 months , thousands of Venture Capital Funds will be born , exclusively for funding of Start Ups ( You know who will set up these VCs ! ) * With NO Income Tax to be paid , Start Ups will conduct all transactions through cheques ( receipts / payments ) * GST collections will go up * Domestic Savings Rate will go up * Since millions of ( Black Money holding ) individuals / businesses will come forward to fund these Start Ups , lending pressure on banks will go down * Who knows , Start Ups may get into the business of ets Reconstruction and relieve banks of NPAs ! * With locally / domestically stashed Black Money flowing into the economy , our dependence on FDI will go down * Corruption will decline drastically # Why the need for Start Up Act ? It is simple In the past 300 years , we have had different systems of Economic Development , viz: Communist / Socialist / Capitalist There were periods when each worked well - depending upon the geography and the technological environment prevailing during those periods Today, Internet and mobile apps are pushing the World towards an E - Commerce economy , which covers entire World seamlessly Tomorrow , Internet of Things ( IoT ) , will tell us what we need to do and when ! Our lives will be dictated by devices ! That will demand a b NEW SYSTEM of economic development which transcends national boundaries Old rules / regulations / laws will not help us find jobs for 12 million youths entering India's work force each year An ocean-going " Ship " , cannot traverse galactic distances of Space Following in the footsteps of Albert Einstein / Stephen Hawking , we need to " Bend the Space " And travel through the Worm-s ! Using the hologram of the " Start Up Act - 2015 " , we must project our economy into : " Distributist Economy ", which goes beyond the " Communist / Socialist / Capitalist " economies ! That is the ONLY WAY to create a , " New Economic Order / The Start Up Economic Order " Last - but not the least : No politician will oppose the unanimous ping of the " Start Up Act - 2015 " , in Lok Sabha or Rajya Sabha You know why ! ------------------------------------------------------------------------------------- hemen parekh 13 Sept 2015 gt;Blogs
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                Indian
                Jan 5, 2016 at 8:18 am
                Many unread golden suggestions are there in the old newspapers. These priceless ideas will certainly bring everlasting prosperity to India and Indians, let us look for new ideas only after transforming these old ideas into actions. If this is done, new ideas may not be required too.
                Reply
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                  Ram Kumar
                  Jan 4, 2016 at 12:57 pm
                  I want to open a casino Dealer training school in delhi or jaipur. Can someone help me how can i start it.Do i need a licence for it if yes, then who will give the license. Please help me.
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                    Mr Robert
                    Jan 11, 2016 at 4:04 am
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                      Mr Robert
                      Jan 11, 2016 at 4:45 am
                      TO WHOM IT MAY CONCERN ARE YOU ARE BUSINESS MAN OR WOMAN,YOU INTO REHABBING AND FIXING OF PROPERTIES, OR INTO ANY FINANCIAL MESS THAT NEEDS MONEY TO EXPAND OR START A NEW BUSINESS, OR YOU NEED MONEY TO PAY BILLS, AND MAYBE YOUR CREDIT SCORE IS LOW AND CANNOT SIMPLY OBTAIN A LOAN FROM THE BANKS OR OTHER FINANCIAL INSUTION. SIMPLY CONTACT ME NOW FOR MORE INFORMATION SO THAT I CAN HELP YOU WITH A LOAN HERE IN UNITED STATES, WE OFFERS LOAN FROM $1000 TO $5,000.000.00 BOTH SECURED AND UNSECURED LOAN. EMAIL: THANKS you Mr Robert Griffin
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                        Santosh Jha
                        Jan 16, 2016 at 4:35 pm
                        Startup india plan for young india
                        Reply
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                          anonymous
                          Dec 27, 2015 at 8:23 pm
                          How much you got today?
                          Reply
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                            India=DUDistan
                            Dec 27, 2015 at 8:40 pm
                            Where is the power to run companies. Like Swash Barat l, everyone is only up to the stage of STARTING. After that all are DUD.
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                              MyTake
                              Dec 27, 2015 at 9:58 am
                              This has the potential to kill actors in public life like Congress and AAP. Once people get the taste of it they will never like to go back and beg for left overs again!
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                                Sundar
                                Dec 27, 2015 at 8:29 pm
                                Best way to encourage risk taking is to facilitate entrepreneurial thought. Way to go. However parents and society at large needs to be sensitized to this change.
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                                  Romik
                                  Dec 27, 2015 at 1:38 pm
                                  India is on the way to become number 1!
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                                    Heil_Modi-ot
                                    Dec 27, 2015 at 8:45 pm
                                    Brahmins, heil Modi. He is your savior. He is ferociously preparing for your jobs. So don't be cribbing about abolition of reservation. He and his brahMINIONS are ferociously working for you. SO HEIL MODI.
                                    Reply
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                                      arc
                                      Dec 27, 2015 at 6:21 pm
                                      Usual monkey baat. New slogan a day. Does anybody care?
                                      Reply
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                                        Atharva
                                        Dec 27, 2015 at 2:42 pm
                                        Modi ji is presenting his opinion but not listnings our idea .plz do something for the poverty of our India
                                        Reply
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                                          Bijan Mohanty
                                          Dec 27, 2015 at 3:31 pm
                                          The PM only talks whether in Maan ki Baat or abroad without doing anything. Very disappointing situation.
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                                            Vidhi lohalive
                                            Dec 28, 2015 at 7:22 am
                                            It's a best initiative by PMO India. As per opinion there should be a very close attention of PMO on banks and financial insutions to encourage start-ups by extending financial support. By this Campaign open up a new jobs opportunity and new business opportunity. This will increase nation's economic health if people may take this point at positive way. We all have to support this and also do some thing new on this. These may be against mortgage, CGTME or else against equity of startups. To speedup this there should be seminars, training programmes of bankers to make them better understanding of this new generation business model. As a Start-up This campaign will give us more benefits and also we open more opportunities for New job seekers.
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