Delhi govt extends help to start-ups and plans to emerge as a global hub

The objective of this policy is to ensure that Delhi turns into the most-favoured able start-up destination for start-ups by FY30.

May 6, 2022

The Delhi government's fiscal incentives also include reimbursement of lease rental of approximately 50% up to INR 5 lakh a year and 100% reimbursement of rental cost/exhibition stall for women, underprivileged, and differently-abled people.

The incentives include the provisioning of collateral-free loans that will be interest-free for a year, free services from charted accountants and ancillary experts, and reimbursements of specific expenses

The government has plans to re-introduce the ‘business blasters programme’ for students of classes 11 and 12 to help them build an entrepreneurial mindset.

Several non-fiscal incentives under the scheme are facilitating linkages between the startup and industry associations, and relaxed government procurements process for start-ups.

To emerge as a global start-up hub, the Delhi cabinet has offered a host of incentives aimed at entrepreneurship,. The objective of this policy is to ensure that Delhi turns into the most-favoured start-up destination by FY30. 

The incentives include the provisioning of collateral-free loans that will be interest-free for a year, free services from charted accountants and ancillary experts, and reimbursements of specific expenses, as per a statement released by the Delhi government. 

Additionally, the government plans to re-introduce the ‘Business Blasters programme’ for students of classes 11 and 12 to encourage them to build an entrepreneurial mindset. The Business Blasters programme offered seed money to ventures. 

The Delhi government’s fiscal incentives also include reimbursement of lease rental of approximately 50% up to INR 5 lakh a year and 100% reimbursement of rental cost/exhibition stall for women, underprivileged, differently-abled people and 50% of others for up to 5 lakh in a year. 

Other incentives include an allowance cost of about INR 30,000 a month for a year and financial support of 50% for procurement of key software, and 50% reimbursement on internet charges up to a maximum of INR 2.5 lakh a year for a 3 year period. 

The scheme also includes several non-fiscal incentives like facilitating linkages between the startup and industry associations and relaxed government procurements process for start-ups

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