Additional incentive for startups in NE states: DoNER Minister

In a bid to encourage youths from across the country to set up startups in Northeastern states, the government has announced additional incentive apart from that given under "Startup India, Standup India" programme, Union Minister Jitendra Singh has said.
This would encourage avenues of employability and livelihood not only for youth from the region, but also from all over the country, he said at a programme organised by the Northeast MPs' Forum here.
Terming "Startup India, Standup India" programme as "most unique programme" in the world, the Minister of State for Development of North Eastern Region (DoNER) said it offers unprecedented incentives like three years of tax holiday and three months of exit period.

"In addition to the incentives already announced in the programme, the Ministry of DoNER has decided to provide an additional incentive of venture capital fund for any youngster from any part of India who wishes to set up a 'Start-Up' entrepreneurship in Northeast," he said.
Besides, the North East Development Finance Corporation (NIDFi) also has provision to provide easy loans to set up entrepreneurship.
"With enormous unexplored avenues including organic farming and manufacturing, Northeast has the capacity to emerge as the favourite destination for young startups from all over India, he said, adding that "Northeast Industrial Policy" has also been revived.

Singh also said there has not only been an increase in the number of projects completed every year but also the pendency of utilisation certificates (UC) for various projects in the region has decreased and after measures to ease the procedures for submission of detailed project reports (DPR) and UC were made.

The DoNER Ministry, he said, has gone beyond the mandate of only development and engaged itself in inter-ministerial interaction with other Ministries to push forward the process of setting up new airports and expansion of rail network.
Extension of the air-strip at the Shillong Airport and the construction of the Agartala to Bangladesh rail track on the Indian side would be funded by the DoNER Ministry, he said.

Minister of State (MoS) for Home Kiren Rijiju, MoS Railways Rajen Gohain, MPs from Northeast R Kalita, Vincent H Pala and P D Rai were also present on the occasion.