RBI is planning easier model for growth of startups

Q: RBI will take some necessary steps to improve the ''ease of doing business''in the country.

Vineet Tendulkar, Mumbai

3rd February 2016

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reserve bank of india

rbi governor raghuram rajan

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Replies (2)

Very Good morning Vineet ji,
It is seen last month that Prime Minister Narendra Modi unwrap many incentives to boost start-up businesses, offering them a tax holiday and inspector raj-free system for 3 yrs, capital gains tax exemption and Rs 10000 crore corpus to fund them.

ankurrajput, Delhi

3rd February 2016

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Hi Ankur,
Apart from that, he also announced a self-certification scheme in respect of nine labour and environment laws and said there will be no inspection during the first 3-yrs of launch of the business.

Keshavrao Jedhe, Pune

3rd February 2016

Hi Keshav ji,
Our PM also added few more inventive such as a liberalized patent system is being brought to help start-up businesses register patents, for which the fee will be cut by 80%.

ankurrajput, Delhi

3rd February 2016

@Ankur,
And the profit earned by these start-up will be exempt from payment of income tax during the first 3-yrs of business. To boost financing, a 20% tax on capital gains made on investments by entrepreneurs after selling of assets as well as government-recognized business capitalists will also be exempt.

Keshavrao Jedhe, Pune

3rd February 2016

Hi Vineet,
If such happened, will contribute to an ecosystem that is conveyor for the growth of start-up business. I think this move is aimed at supporting the government's ''Start-up India'' initiative.

ankurrajput, Delhi

3rd February 2016

Comment

Good morning Ankur,
Yes, these system will not only support '' start-up India'' initiative but also it will create a model for receiving foreign venture capital, differing contractual structures applied in investment instruments, postpone receipt of considerations for transfer of ownership, facilities for escrow arrangements and simplification of documentation and reporting procedures.

Vineet Tendulkar, Mumbai

3rd February 2016