| lexspeak |
| Hi Folks |
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Last time I had written “Different doors need to be opened. Simply widening the existing doorway will not do !“ This was with reference to the liberalisation for Start Ups. A fortnight later, on reviewing the Start Up Action Plan and watching the Startup India, Standup India programme on 16th Jan, 2016, I can say to a large extent different doors are being opened. More importantly there is an attempt to create a ‘free corridor’ and remove the so-called ‘door keepers’ for start ups. |
| ‘Seeing is believing’. |
- Can you believe in less than 6 months from his 1st announcement for a Startup-friendly regime, our PM actually did release a Startup India Action Plan ?
- Can you believe it is not a Policy seeped in bureaucratic legalese but a clear, concrete Action Plan ?
- Can you believe it looks like a corporate hand book or brochure with sleek pictures and easy-to-understand, uncluttered business English with a clear intent ?
- Can you believe it was available online simultaneous with its release offline ?
- Can you believe the Startup India, Standup India event had a tagline “WE UNOBSTACLE” – yes Government believes it is an obstacle for entrepreneurs ?
- Can you believe the event was compered by none other than the Secretary of the DIPP (Dept of Industrial Policy & Promotion) Mr. Amitabh Kant, a top ranking IAS officer ?
- Can you believe his introductions to each speaker was crisp, uplifting and business like ?
- Can you believe during the day 15 Secretaries of various government departments were actually grilled by the start up founders ?
- Can you believe there was table-thumping and whistling in an official government launch programme ?
- Can you believe start up founders shared the dias with the PM and 2 of his important ministers ?
- Can you believe there was no government protocol of long, boring speeches but short, interesting, intense talks ?
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| You have to believe because all of us actually SAW all this happening !! |
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This is a commendable start to Startups which was followed by actual action. 1st evidence was easing the name approval process while incorporating a company. See the notifications we are carrying in this edition. However what I see missing is the zeal, enthusiasm and commitment of the grass root level government officials to actually supporting entrepreneurs. 1 day company registration app may be in place soon but at the local ROC office, it still takes more than 10 days for e-files to be processed. This requires a change in mind-set, a change in attitude. Hope this happens soon. Or else it will only remain an ACTION PLAN and not ACTION ! |
| Highlight of this issue of Lexspeak is the Startup India Action Plan and a few notifications that have followed. Should you wish to refer to any of our older issues of Lexspeak, do visit our Resource Centre at sharadasc.com. |
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Warm regards
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| The much awaited Startup India Action Plan was launched by PM Narendra Modi on 16th January, 2016 at Vigyan Bhavan as part of the “Startup India Standup India” Initiative.
Highlights :
- Simplifying the startup process
- Compliance regime based on self-certification
- Rolling out of Mobile app and portal
- Legal support and fast-tracking patent examination
- Startup India Hub
- Exemption from Capital Gain Tax
- Tax exemption for Startups
- Faster exit for startups
- Rs. 10,000 crore for funding startups
- Relaxed norms for public procurement
- Setting up of 35 new incubators in institutions
- Setting up of 7 research parks
- Promote Entrepreneurship in Biotechnology
For the first time startup has been defined by the Government for the purpose of availing Government scheme. Do read Annexure I of Action Plan to know what the startup is.
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As part of the ease of doing business and follow up to the announcement made in Start-up India Action Plan, the crucial step of getting the desired name for a company registration has been modified –
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- Name availability approval has been centralized in Delhi and
- Approval norms have been simplified
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| Name availability form centralized |
- The Central Registration Centre (CRC) shall process applications for reservation of name i.e. e-Form No. INC-1 under the administrative control of ROC Delhi w.e.f. 26th January, 2016. Integrated incorporation e-Form i.e. INC – 29 shall continue to be done by the respective ROCs.
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