Purchasing Managers’ Index is an indicator of business
activity both in the manufacturing and services sectors. PMI in October 2018
stood at 53.1 as against 50.3 in October 2017. October 2018 is the 15th
consecutive month of PMI>50, indicating growth in the manufacturing sector.
The Start-up India is a flagship initiative of the
Government of India, intended to build a strong ecosystem that is conducive for
the growth of start-up businesses, to drive sustainable economic growth and
generate large scale employment opportunities. The Government through this
initiative aims to empower start-ups to grow through innovation and design.
DIPP recognized start-ups number touched 14,545 in November
18 as compared to 4610 on October 2017 generating total employment for 130,424
persons.
Number of programmes have been undertaken since the launch
of the initiative on 16th of January 2016 by Prime Minister, to transform India
into a country of job creators instead of job seekers.
The 19-Point Start-up
India Action Plan envisages several incubation centres, easier patent filing,
tax exemptions, ease of setting-up of business, a Rs. 10,000 crore corpus fund
and a faster exit mechanism.
The achievements of the Start-up India action plan can be
stated as: simplification and hand holding for compliance regime based on
self-certification, rolling out of mobile app and portal, setting up of
Start-up India hub, legal support and fast-tracking patent examination at lower
costs, relaxed norms of public procurement for start-ups and faster exit for
start-ups, providing funding support
through fund of funds with a corpus of Rs. 10,000 crore, tax exemption on
capital gains, tax exemption to start-ups for 3 years, removal of angel tax,
promoting industry-academia partnership and incubation through launch of Atal
Innovation Mission, harnessing private sector expertise for incubator setup,
building 11 Technology Business Incubators, setting up of 7 new research parks
modelled on the research park setup at IIT Madras, promoting start-ups in the
biotechnology sectors and launching of innovation focused programmes for
students.
Image Courtesy: Google
Latin Manharlal Group
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