‘Start-up India’ is overdue. But creation of enabling policy environment must not be restricted to start-ups.
- It promises swift approvals for starting enterprises, easier exits, tax and fiscal incentives, faster registration of patents and protection of intellectual property rights.
- Signals a possible end to the inspector raj.
- Tax breaks do help but what is more critical is an enabling regulatory and business environment that will foster innovation and have a cascading impact on entrepreneurship.
- Funding now on offer could perhaps be directed more towards segments tough to raise capital in such as food processing, rather than mobile-based applications or e-commerce firms.
- Easing of rules and creation of a conducive policy environment should not be restricted just to start-ups. It should be extended to all businesses.