GES 2017: Centre, states to ease norms to promote start-ups, says DIPP secretary

Central and state governments are working together to remove regulatory hurdles with a view to encouraging budding entrepreneurs in the […]

   

Central and state governments are working together to remove regulatory hurdles with a view to encouraging budding entrepreneurs in the country, Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek said on Thursday. At a session of the Global Entrepreneurship Summit (GES) 2017 in Hyderabad, Abhishek underscored the need for a differential treatment of sectors such as startups, smart technology and disruptive businesses. “Governments need to be far more sensitive in responding to regulations for disruptive business models and this is something which we are working on… state and central governments and even regulators are trying to work together and many laws we have been able to change in the last one and a half years,” he said. To enhance funding facilities to budding entrepreneurs, the government is in the process of setting up a Rs 2,000 crore credit guarantee fund. This fund will be used to lend to startups without any collaterals. As many as 5,000 startups have registered so far with the DIPP. “We are hoping that Rs 1,600 crore more will be committed by March,” he said, adding that the disbursement depends on the stage of the startup. The secretary further said the government has relaxed norms to increase startups in public procurement processes.





Trending

RAI

RAI requests RBI to implement a three-month moratorium on loans

Coronavirus trade impact

Covid-19 Economic Impact: Government extends foreign trade policy for one year

Coronavirus tax

Covid 19 Economic Impact : Finance Ministry issues Taxation and other Laws Ordinance, 2020

Coronavirus MSME

Covid-19 Economic Impact: Tamil Nadu CM announces concessions for MSME units, farmers

Coronavirus sanitizer industry

Covid-19 Impact: Chemical manufacturers brace for drop in revenues

medical kits

MSME ministry: Inform govt if you are dealing with products required to fight Covid-19

Schemes

COVID-19: Companies fresh start & LLP settlement scheme to provide relief

commerce ministry

Lockdown Impact: Commerce ministry provides relaxations in filing compliance report to SEZs

RBI Covid-Measure-Industry Reactions

Industry Reacts positively on RBI’s announcement to counter COVID-19 impact on economy

Srinivas-Rao-Mahankali

“Nothing in our lifetimes has prepared us for a situation like this”: M. Srinivas Rao, CEO, Global Alliance for Mass Entrepreneurship

coronavirus lockdown

Cabinet Secretary: No plan of extending coronavirus lockdown

invest india

Over 1.75 Lakh people visit business immunity platform website in a week