Startup India campaign is based on an action plan aimed at promoting
bank financing for start-up ventures to boost entrepreneurship and
encourage start ups with jobs creation. The campaign was first announced
by Prime Minister Narendra Modi in his 15 August 2015 address from the
Red Fort.It is focused on to restrict role of States in policy domain
and to get rid of license Raj and hindrances like in land permissions,
foreign investment proposal, environmental clearances. It was organized
by Department of Industrial Policy and Promotion. A startup is an entity
that is headquartered in India which was opened less than five years
ago and has an annual turnover less than 25 crore
.The government has already launched iMADE, an app development platform
aimed at producing 1,000,000 apps and PMMY, the MUDRA Bank, a new
institution set up for development and refinancing activities relating
to micro units with a refinance Fund of 200 billion .
