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CSEET · Economic and Business Environment · Entrepreneurship Scenario

Under the Start-up India initiative of the Government of India, which of the following best describes the purpose of the programme?

Start-up India aims to build a supportive ecosystem for innovation and start-ups by simplifying compliance, improving access to funding and offering incentives and mentoring. It does not nationalise ventures, bar foreign investment or replace company law; it works within the existing legal framework to encourage entrepreneurship.

  1. ATo build a supportive ecosystem that nurtures innovation and promotes start-ups through simplified compliance, funding support and incentivesCorrect
  2. BTo nationalise promising private start-ups and run them as public sector undertakings
  3. CTo restrict foreign investment in all new technology ventures
  4. DTo replace all existing company law requirements for new businesses

Explanation

Start-up India, launched in 2016, aims to create an enabling ecosystem for innovation and entrepreneurship through easier compliance, funding support, incentives and mentoring. It does not nationalise ventures, restrict investment or replace company law. The other options describe things the initiative does not do.

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