Economic Times ( 15 May )
carries following news report :
Startup Inc’s Sop Story to be part of Book of Jobs “
benefits under Startup India will have to declare job creation estimates
benefits under the Startup India programme will soon have to declare upfront how many
jobs they will createin
order to qualify as the government moves to make employment generation the
guiding principle for all its major programmes.
“We will soon
notify the new
definition for startups, which goes beyond
innovation,“ a senior government official said.
Innovation is currently the main criterion for startupsto qualify for benefits such as tax
holidays and fast-track patent filing under Startup India.
To qualify as a
startup under the new definition, an entity would have to declare its job creation target and meet
certain financial standards besides having a certain level of innovation in its
product or service.
When PM Narendra
Modi launched the Startup India initiative in January 2016, one of its main
thrusts was to create employment opportunitiesfor the youth, but it was not included as a mandatory requirement.
The initiative has
not yet taken off in a big way , as only 10 startups have been approved for availing of
the tax benefitby an
DIPP has recognised 798 applications as startups but not given them
the tax benefit.
incorporated after March 31, 2016, could avail of a three-year tax holiday in
the first seven years of their existence under the Startup India initiative.
expected to create 250,000jobs in India by 2020,
up from 80,000 now, according to a Nasscom report.
Writing down on a
piece of paper that “ you will create so many jobs ( by xyz date ? ) “ , is not
difficult but do DIPP have the manpower – and a mechanism – to count the “ Actual No of Jobs “
Can technology help “ count “ the actual number of persons employed by such a start up
and transmit that figure to DIPP , daily ? – automatically
Yes , it can !
If DIPP were to implement my following suggestion ( earlier sent as email )