Start-ups exempted income tax for first 3 years

New Delhi: In an attempt to bolster the entrepreneurship spirit of country’s youth, the government on Saturday said that the country will finally come out of the conventional license raj system.

7.42 pm: Prime Minister Narendra Modi concludes his adressal to entrepreneurs at Startup India launch program at Vigyan Bhawan in Delhi.


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7.41 pm: A sum of Rs 10,000-crore will be created for funding of start-ups.

:40 pm: Credit guarantee scheme will be introduced for start-ups in next 4 years, funds of around 500 crores will be given every year.

7.35 pm: No inspection for 3 years of start-up businesses in respect of labour, environment law compliance post self-certification.

7.30 pm: We are moving forward to give opportunities to new ideas in India but quality shouldn't be compromised.

.28 pm: India's future lies in innovation and creativity. We are starting the Atal Innovation Mission to give an impetus to innovation and encourage the talent among our people.

7.21 pm: If there are million problems, India has billion minds to solve it.

7.19 pm: Yes, we have a million problems but at the same time we have over a billion minds.

7.15 pm: When I say start up India, it is implicit that I say stand up India. India is blessed to be a nation of youngsters.

7.13 pm: Start up does not mean billion dollar company where thousands of people work. It is about employing even 5 people and developing India.

7.07 pm: When we say ‘Make in India’, we also say 'Make for India.' India is a great market.

7.03 pm: This start up movement is not merely guided by money or name and fame. The purpose is beyond that. Ab, Uber kuber ban gaya.

7.01 pm: Solution to all problems has become an App. And I have benefited greatly from this. I also have the 'Narendra Modi App'. Share your stories with me on it.

6.58 pm: Success of start-ups is not only about enterprise. It involves risk taking and adventure, too.

6.56 pm: Ideas are many but some leave the idea halfway while the others become very involved with the idea.

6.54 pm: We are here so that you can tell us what we should not do.

6.52 pm: When I was listening to Ritesh (Founder, Oyo Rooms), I wondered why a 'chai wala' did not think of starting a hotel chain. Sometimes, I wish God had given me capabilities like you people

Prime Minister Narendra Modi addresses Startup India launch program at Vigyan Bhawan in Delhi.

6.50 pm: PM Modi launches Startup India action plan