In order to encourage entrepreneurs and further ease doing of business in India, the government said on Friday that a web portal for start - ups will launched by next week, which would also begin their registration process.
"In another week's time, we are going to start the start - up portal and the process of registration of start - ups also, " Ramesh Abhishek, secretary of the Department of Industrial Policy and Promotion (DIPP), said at a post - budget interaction here organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).
"We are also working with state governments to ensure that self - certification work in case of labour and skill development laws are put in place for start - ups, " he said.
Besides the Start - up India initiative launched last year, the DIPP has issued the definition of start - ups and is making it easier for them to file patent applications, Abhishek added.
The Union Budget for 2016 - 17, presented on Monday, proposed full tax exemption for start - ups for three years.
Besides, a special patent regime has been proposed with a 10 percent rate of tax on income from worldwide exploitation of patents developed and registered in India in order to promote innovations
The Start - Up India action plan has proposed a "Fund of Funds" to raise Rs. 2, 500 crore annually for four years for financing start - ups.
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