Which of the following is/are the feature(s) of "Start-up India"? 

  1. No income tax and capital gains tax for three years on Start-ups.
  2. System of self-certification for Start-ups, with no labour inspection for three years. 
  3. Maximum days to exit from Start-ups will be 90 days.

Which of the above is/are correct statements?

Answer: [D] 1, 2 & 3

Prime Minister Narendra Modi has unveiled the "Start-up India, Stand-up India" action plan in New Delhi to boost startup ventures in the country. Its important features are:

  • Start-up profits to be tax-free for 3 years and also no labour inspections for 3 years of launch of the venture.
  • Compliance regime based on self-certification for labour and environmental laws
  • Easy exit policy for start-ups with 90 days
  • Tax exemption to be provided on capital gains if money is invested in another start up
  • Government to create Rs. 10,000 crore corpus fund for development and growth of innovation driven enterprises
  • It will be Rs. 2500 crore a year for four years Liberalised Fast-track mechanism for start-up patent applications under intellectual property rights protection with 80% cost rebate

This question is a part of GKToday's Integrated IAS General Studies Module