StartUp India was one the most celebrated schemes of the NDA Goverment in 2015-2016.PM Modi was so fascinated from this scheme that he was insured this will bring an instant peace and employment to the youth of the nation.What is the real story about StartUp India? Lets find out.
There are 13000 StartUps which are being conducted in the country. Out of which only 6000 startups are being approved by the government. But only a several of them which is 54 startups are being given tax benefit. This 54 startups are regarding agriculture. So the government is trying to decide what startup should be started in the country. Not every entrepreneur is interested in agriculture. This must be changes & even the process is long and taking more ime of the business owner. Ofcourse everything is only decided by the Inter Ministerial Board and the officers their has no idea of the unorthodox business which is being done by the entrepreneur. IT business is booming these days and every startup needs funds. Startup India program is associated with Sidbi an initiative for small business but they ask huge guarantees for the new business.
So how can the new entrepreneurs will be able to catch up with this. No doubt that the FDI has decreased in the Modi Raj and the investment in small Startup have been decreased. Big companies like Infosys are being merging with the giants like Google. Now the government should be thinking for the visionaries and should do some basic changes to the scheme.
These are some basic corrections that should be made:
1. New ministry for StartUp should be created.
2.An highly successful Startup Ceo should be the main advisors of this ministry.
3.A fund should be decided involving government sharing in the company.
4.Funds should be transparent and should be directly issued by the government.
5.The process should be fast and the entrepreneur should be called up for an interview to pitch their ideas.
If this changes are being made then there a chance of booming the economy. The Startups not only bring jobs but also brings huge money.So why should learn from Israel and do the same.