PMKSY - Over 2 lakh youth turned entrepreneurs till June 2019: MoS
Published: Jun 21, 2019
By TIOLCORPLAWS News Service
NEW DELHI, JUNE 21, 2019: THE Union MoS for Skill Development and Entrepreneurship, Mr RK Singh, today in Parliament stated that as on June 15 this year, out of 12,11,463 skilled youth who have been linked to livelihood opportunities, more than 2 lakhs have taken up self employment & entrepreneurship. Such a feat had been achieved through the Pradhan Mantri Kaushal Vikas Yojana. The Ministry of Skill Development and Entrepreneurship runs various skill development programmes in order to create sustainable livelihood opportunity for the youth of the country in the form of long term training programs through Directorate General of Training (DGT) and short term Skill Training Programmes
Startup India is a flagship initiative of the Government of India (launched in January, 2016), intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design. As on 18.06.2019, 997 startups have been recognized by Department for Promotion of Industry and Internal Trade (DPIIT) under Startup India initiative in Tamil Nadu. Startup India provides the following exemptions/concessions to all DPIIT recognized Startups, irrespective of States/UTs:
- 80% rebate on patent filling fees - 1,496 startups benefited
- 50% rebate on trademark filling fees - 2,761 startups benefited
- Income Tax Exemption under Section 80 IAC - 94 startups exempted
- Angel Tax Exemption under Section 56 - Intimation emails to 689 startups have been sent regarding receipt of declaration in Form 2.