NEW DELHI, December 17: Union Minister of State for Development of North Eastern Region DoNER, , Dr Jitendra Singh announced special incentives for startup entrepreneurship in Northeast on Friday and said, this would encourage avenues of employability and livelihood not only for youth from the region, but also from all over the country.
Speaking at an programme organized by Northeast MPs’ Forum, Dr Jitendra Singh said, “Startup India” is the most unique programme in the world ever started anywhere and it offers unprecedented incentives like 3 years of tax holiday and 3 months of exit period. Such kind of a youth-centric initiative could have been taken only by the Modi government which cares for the children of this country like its own children and is committed to ensure respectable avenues of livelihood for them.
In addition to the incentives already announced in the programme, Dr Jitendra Singh said, 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. The North East Development Finance Corporation also has provision to provide easy loans to set up entrapreneurship.
With enormous unexplored avenues including organic farming and manufacturing, Northeast has the capacity to emerge as the favorite destination for young startups from all over India, he added. Dr Jitendra Singh also disclosed that “Northeast Industrial Policy” has also been revived.
Citing some of the achievements of the Ministry of DoNER during the last one year, Dr Jitendra Singh disclosed, with the measures to ease the procedures for submission of DPRs and Utilization Certificates, there is not only an increase in the number of projects completed every year, but the pendency of Utilization Certificates has also decreased. If, for example, he said, during the last financial year ending March 31, 2016, the total number of projects completed was just around 30, in the current financial year, in just first six months ending 31st October, over double the number of projects are either completed or nearing completion.
In order to overcome the delays in execution and spending of funds, Dr Jitendra Singh said, the Ministry of DoNER has set an example in the last two years by experimenting with out-of-the-box options. For example, he said, the DPRs from the State Governments are now routed directly to the concerned Union Ministry without going to the DoNER Ministry which only acts as facilitator, coordinator and expediter. Similarly, to make the submission of Utilization Certificates more prompt and authentic, services of Space Technology have been involved to a substantial extent, he said.
Dr Jitendra Singh 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. He disclosed that the extension of the air-strip at the Shillong Airport will be funded by the DoNER Ministry and similarly, the construction of the Agartala to Bangladesh rail track will also be funded by the DoNER Ministry for the portion of the track on the Indian side.
Prominent among those present on the occasion were MoS Home Kiren Rijiju, MoS Railways Rajen Gohain, MPs from Northeast R. Kalita, Vincent H. Pala and P.D. Rai, office bearers of various State organizations, Union Secretary DoNER Naveen Verma and Secretary NEC Ram Muivah.