It has been a long time that now Prime Minister Narendra Modi launched the Startup India scheme on the 16th of January, 2016. However, the response to the scheme has been lukewarm. As per certain media reports, less than 1,500 startups have so far applied for registration under the scheme, around 500 were recognised as startups, and only about 100 became eligible for tax benefits. So, here are 5 top startup scheme which is launched by Indian government:
Pradhan Mantri Mudra Yojana (PMMY)
MUDRA scheme of government will provides refinance support to banks / MFIs for lending to micro units which is having loan requirement of upto INR 10 Lakhs. According to a report, loans extended under the PMMY during 2016-2018 have crossed the target of INR 1.8 Lakh Cr. The amount which is disbursed is more than 4 Cr, out of which 70% of amount was given to women. Moreover, for the fiscal year 2018-19 the target has been kept at the amount of Rs 2.44 Lakh Crore for Mudra Loans.
Stand Up India
This scheme is launched by the Indian government to facilitates bank loans between the amount of Rs 10 Lakhs and Rs 1 Cr to at least one Scheduled Caste or Scheduled Tribe borrower and at least one women borrower per bank branch for setting up a enterprise which is Greenfield. The enterprise can be in the form of any manufacturing, trading or the services. In the case when there is only a non individual enterprises, then there should be at least 51% of the shareholding and controlling stake should be held by an SC/ST or woman entrepreneur. The borrower should not be in default in any of the financial institution or bank.
SIDBI Make In India Soft Loan Fund For Micro Small And Medium Enterprises
The basic aim of this scheme by the Indian government is to provide a soft loan, in the nature of quasi-equity, and term loan which is on relatively soft terms to all the MSMEs to meet the required debt-equity ratio for the establishment of an MSME as also for pursuing opportunities for the high growth for existing MSMEs.
Startup Assistance Scheme
This primary aim of this scheme by Indian government is to provide the financing support for ‘startups’ and ‘early-stage enterprises’ mostly in sectors which traditionally and also which do not have any of the technical assets like technology, social ventures, web and mobile development services, asset light services, or clean technologies. The latest Innovative business models in other asset-based sectors could also be selected if it is good.
Rapid Grant For Young Investigator
The scheme is launched by the Indian government to provide support for the biotechnology field which includes the animal biotech, medical, agriculture, environment and industry, etc. to enhance the early career development of young investigators. The programme aims to provide the first extramural grant to establish labs and initiate research in the main areas of biotechnology.