इंडियन आवाज़     04 Mar 2024 08:42:21      انڈین آواز

Govt new Start-Up India movement would end licence raj: Jaitley


Union Finance Minister Arun Jaitley today said the government’s new Start-Up India movement would end licence raj and restrict the role of the state in entrepreneurship.

Speaking at the opening session of the launch of Start-Up India in New Delhi today, Mr Jaitley said, Start-up friendly tax measures will be announced in his forthcoming budget.

He said the both the government and the banking system will make more resources available to new entrepreneurs. He said, the MUDRA scheme launched by the government has brought forward many entrepreneurs. The Minister expressed hope that Start-Up India will change conventions.

He informed that Stand-Up India movement will be separately launched and it will be more targetted at women and entrepreneurs from disadvantaged backgrounds.

Speaking on the occasion, Commerce and Industry Ministry Nirmala Sitharaman said, in the last one-year, there has been 40 per cent increase in financing of Start-ups in India.

She said, government would look at removing cluster so that Start-ups can focus on core business. She added that for the Start-up ecosystem already created in India, government would become the facilitators. She said, Commerce and Industry Ministry is working with various ministries for greater synergy.

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