PM Modi launches new start-up coverage of MP authorities

By PTI

INDORE: Prime Minister Narendra Modi on Friday launched the Madhya Pradesh authorities’s Start-Up Policy 2022 and a start-up portal by video hyperlink within the presence of younger entrepreneurs right here.

Under the brand new coverage, start-ups would get subsidies in the direction of lease and salaries of staff.

Modi additionally interacted with just a few entrepreneurs on this event to study their start-ups, and suggested them about how they might profit individuals.

In 2014, there have been 300 to 400 start-ups within the nation, however in eight years their quantity rose and now there are 70,000 recognised start-ups, the prime minister stated.

Chief Minister Shivraj Singh Chouhan additionally spoke on the perform in Indore.

Under the brand new coverage, the state authorities will give subsidy to start-ups in the direction of lease for the office, salaries and product patents. There may even be a quota for start-ups in authorities purchases, an official stated.

If a start-up is working from a rented place, Rs 5,000 per thirty days might be paid for lease. It may even get Rs 5,000 per thirty days per head for wage of as much as 25 staff, the official added.