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INDIAN AFFAIRS
NARENDRA MODI UNVEILS LIBERAL START-UP ECOSYSTEM
January 17, 2016
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1.Prime Minister Narendra Modi sought to infuse more energy into India’s start-up ecosystem with a bouquet of initiatives such as making tax-free the profits of these fledgling units for three years, Rs. 10,000 crore of government funding over four years, no visits by labour inspectors for three years, and quicker and subsidised patent clearances.

2.The “Start-up India, Stand-up India” action plan, unveiled by Mr. Modi on Saturday, promises a new mobile app to enable start-ups to register themselves within a day and apply for clearances online, and easier exits for failed ventures with a provision for winding them up within 90 days under a proposed bankruptcy and insolvency law.