EastMojo
www.eastmojo.com
Start-up
NEWS

How the new start-up policy will benefit Naga women entrepreneurs

Nagaland govt allocates 25% fund for women; new proposal to facilitate 500 start-ups in five years

Kohima: With its new start-up policy, Naga women entrepreneurs will now get an upper hand in start-ups as the state government is allocating 25% fund for women. Overall, the new policy is aimed at facilitating 500 start-ups in five years.

Targeted at the young population, the new policy aims to accelerate and promote local entrepreneurs while promoting local goods and products. Furthermore, it will facilitate the growth of at least 500 start-ups in the next five years by establishing innovative 'Made in Nagaland' products and services.

Under the Start-up India initiative, the department of industries & commerce has been appointed as the nodal department to implement the start-up policy in the state.

Start-up India, an initiative of the Centre seeks to build a strong ecosystem for nurturing innovation towards a sustainable economic growth and to generate large-scale employment opportunities across the country.

Further, GST reimbursement, stamp duty reimbursement, digital upgradation subsidy, broadband connectivity reimbursement, power subsidy, marketing and promotion assistance, regulation, encourage public procurement are some incentives under the policy.

With the budget being passed in the state legislature and as per the rules laid by the assembly, Nagaland Startup Policy 2019 shall be effective for a period of five years from the date of its notification or until notified, whichever is earlier.

The third session of 13th Nagaland Legislative Assembly (NLA) was adjourned sine die after completing all the assembly proceedings on February 26. The session, which started on February 21, witnessed adoption of government resolution rejecting the Citizenship Amendment Bill (CAB), 2016 on February 25 after three days of debate on the controversial bill vis-a-vis Article 371 (A) of the Constitution of India and the Bengal Eastern Frontier Regulation (BEFR) Act of 1873. The question hour in the six-day-long session witnessed 33 starred questions and 28 starred questions.