Budget 2014 indicates that it is correct time to start new business. If you have correct business plan and risk taking ability then get ready, budget 2014 brings you ample amount of opportunity for new business. Various Key announcements are made in Union Budget 2014 for Startup, SME and Entrepreneurs. We are herewith details and infographic
BUDGET 2014 Key Provision for New Business & Entrepreneur
Ø Fund of Funds with a corpus of 10,000 Cr for providing equity through venture capital funds, quasi equity, soft loans and other risk capital specially to encourage new startups by youth to be set up.
Ø Corpus of 200 Cr to be set up to establish Technology Centre Network.
Ø Pan India programme “Digital India” to with an outlay of 500 Cr to be launched.
Ø Skill India to be launched to skill the youth with an emphasis on employability and entrepreneur skills.
Ø Entrepreneur friendly legal bankruptcy framework will be developed for SMEs to enable easy exit.
Ø A nationwide “District level Incubation and Accelerator Programme” to be taken up for incubation of new ideas and necessary support for accelerating entrepreneurship.
Ø Initial sum of 100 Cr for “Start Up Village Entrepreneurship Programme” for encouraging rural youth to take up local entrepreneurship programs.
Ø Committee to examine the financial architecture for MSME Sector, remove bottlenecks and create new rules and structures to be set up and give concrete suggestions in three months.
Ø Sum of 500 Cr for developing a Textile mega-cluster at Varanasi and six more at Bareilly, Lucknow, Surat, Kutch, Bhagalpur and Mysore.
Ø Investment allowance at the rate of 15 percent to a manufacturing company that invests more than 25 Cr in any year in new plant and machinery. The benefit to be available for three years i.e. for investments up to 31.03.2017.
In short Ache Din Ahead for Business. Do share your views on above.