Budget 2014 – Key Provision for New Business & Entrepreneur

Budget

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.

Budget 2014 Business

In short Ache Din Ahead for Business. Do share your views on above.

Article by Raviraj

Hi, I am Raviraj. I am passionate about money matters and finance. I have 10 years of rich experience in the field of financial planning, Investments & Insurance. I have written 850+ article on this blog. If you like my efforts kindly subscribe to this blog and also let your friends know about this website by sharing.

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4 Comments

  1. Vikash kumar says:

    Hi all,
    I m vikash kumar.i have done my B.com 2014.i would like to start a bussiness as an Marketing and advertisement.i m interested in marketing too much.and i would like to give apportunity to youth work in my company and i want to pay income tax arround 5,00,000 Fy 2016-2017.so for geting this much profit.Please help me.

    Thnks&regards
    Vikash kumar

  2. SHAMOON says:

    Good morning Sir/Madam,
    I am Shamoon completed my B.Tech Instrumentation&Control Engineering (2012) and my native is Pondicherry. I am more interested for starting up a successful business in Pondicherry and moreover my aim is doing a good service for my people. Can you please guide me for starting up a successful business in Pondicherry, and I am more pleased to ask you about this. Below are my following doubts:
    1. Whether I can start a business by taking good franchise, any dealership, or starting my own business?
    2. If I am starting my own business, what type of business I can start in Pondicherry to make it successful?
    Please give me a detailed plan regarding this and kindly waiting for your reply. Thank you
    Regards,
    SHAMOON

    • Dear Shamoon,

      You can start your business by taking dealership of product.You can select product from automobile or CNC sector. Another good line to start with is SCADA system repair, programming and AMC business.

      Regards,
      Raviraj

      • SHAMOON says:

        Thank you so much for considering my comment Mr.Ravi. If I take dealership of product as you said, whether it will work out in Pondicherry to make it successful?
        Any suggestion about starting a new and successful business?

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