MORADABAD (UP), Feb 14 : Addressing a “Youth Sammelan” organised by Bharatiya Janata Yuva Morcha (BJYM) here today, Union Minister Dr. Jitendra Singh today called for availing StartUp incentives made available by the government, ever since Prime Minister Narendra Modi had referred to “StartUp India, Stand Up India” in his Independence Day address and subsequently a StartUp policy was formally framed. He said, young StartUps are key to India’s economic growth in the years to come.
Dr. Jitendra Singh pointed out that in the latest General Budget for 2023-24 also, morale-boosting announcements have been made for Indian StartUps by, for example, extending the date of incorporation of StartUps for income tax benefits till 31st March, 2024. Also, an announcement was made to provide the benefit of carry forward of losses on change of shareholding of StartUps from seven years of incorporation to ten years, in the budget, he said.
The Union Minister also mentioned Khadi saying it is fast emerging as a new and lucrative StartUp avenue with huge incentivisation and attractive subsidy offers from the government.
Dr. Jitendra Singh said that under Prime Minister Modi’s leadership, within a short span of time of 4-5 years, India has reached Rank 3 in the StartUp global ecosystem.
Dr. Jitendra Singh said that Indian StartUps are most sought after globally and can play a major role in making the Indian economy worth 5 trillion dollars, as envisioned by Prime Minister Modi. He said that the Indian StartUp movement has received a massive boost through the policies of the Modi Government.
The Union Minister said that the hallmark of Indian StartUps is that they are engaged in varied and diverse sectors, like, Space, agriculture, Artificial Intelligence (AI), etc, and they can contribute to India’s growth story in every sector. He cited the example of Space StartUp ‘Skyroot’, which successfully launched India’s first private rocket ‘Vikram-S’. Similarly, several Indian agri-tech StartUps are making a headway in domestic as well as international market.
Dr. Jitendra Singh mentioned the excellent growth trajectory being registered by Indian StartUps and unicorns and the jump in the numbers of the start-ups in the country. He said that the number of recognized start-ups in India are almost 87 thousand, at present while, number of Unicorns in India has also crossed one hundred in the last 8 years. He said this speaks volume of the conducive environment being provided by the Modi Government for the start-ups in the country.
Dr. Jitendra Singh Singh called upon Yuva Morcha Karyakartas to actively engage in spreading awareness about various benefits of Government’s welfare schemes for the youth of the country and the StartUps. He said this will not only serve to help the youth in their livelihood, but also in extending the reach of Yova Morcha across the sections of society.
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