Government Schemes For Startups And Msmes In India
There is no shortage of schemes in India for startups and m-smses. At the moment, there are four main schemes: The Angel Tax Relief Scheme (ATRS), the Startup India initiative, the Digital India initiative, and the m-Governance initiative.
The Angel Tax Relief Scheme provides tax relief to angel investors who invest less than Rs 10 lakh ($1 million) in startups. There are also no income or asset limit for these investors. However, there are rules that apply to these investors, including a minimum tenure of one year and an objective of making a long-term investment in the startup. Additionally, only accredited investors can be defined as angel investors under ATRS.
Startup India provides funding to startups that meet certain criteria like being a product- or technology-based firm with an annual revenue of up to Rs 2 crore ($3.3 million). The Digital India initiative aims to provide all Indians with access to Internet by 2020, allowing them to connect to national and global networks through digital infrastructure, apps, and devices.
The m-Governance initiative aims to improve delivery of government services by developing mobile applications and enabling citizens to interact with authorities online.
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