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July 12, 2017

Startup India’s slow pace worries Govt.

Only 39 start-ups have qualified for tax sops even 18 months after its introduction

The Centre is concerned about the minuscule number of start-ups becoming eligible for tax benefits under the Startup India programme, with just 39 start-ups qualifying for such concessions even 18 months after the flagship initiative was introduced by Prime Minister Narendra Modi.

“Till March (2017), only around 10 start-ups were found eligible for tax benefits,” a senior government official told The Hindu. “In the last three months, though, this number has gone up to 39, we feel this is too low given the programme’s high ambitions.”

With the norms specifying that in order to obtain tax [...]

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