CURRENT AFFAIRS

Detailed explanation-1: -The Delhi cabinet has approved the “Delhi Startup Policy” with an aim to create an ecosystem for people to launch startups and provide them with fiscal and non-fiscal incentives, collateral-free loans, and free consultancy from experts, lawyers, and CA.

Detailed explanation-2: -Karnataka has one of the most mature startup ecosystems with around 15000+ startups and was the first State in the country to announce a dedicated Startup Policy in 2015.

Detailed explanation-3: -The Delhi Startup Policy envisages the emergence of Delhi as a Global Innovation Hub and the most preferred destination for Startups by 2030. The creating an enabling ecosystem for an innovation-based economy and fostering entrepreneurial spirit through a robust support mechanism.

Detailed explanation-4: -“The Delhi Government will pay up to 50% of the rent of a startup’s office lease or pitch in for a portion of the salaries that these startups will pay to their employees. We will also reimburse them for the costs incurred on applying for patents, copyrights and trademarks,” Mr. Kejriwal said.

Detailed explanation-5: -Startup India is an initiative of the Government of India. The campaign was first announced by Indian Prime Minister, Narendra Modi during his speech on 15 August 2015. The action plan of this initiative is focussing on three areas: Simplification and Handholding.