Q.The Government of India's 'Start-up India' initiative primarily aims to:
(A) Provide subsidised raw materials to large industries
(B) Promote and support new entrepreneurial ventures through a favourable ecosystem
(C) Nationalise small-scale industries
(D) Restrict foreign investment in India

The correct option is the Government of India — Start-Up India is its flagship initiative to promote entrepreneurship.

The Government of India actively supports entrepreneurship because new enterprises create jobs, encourage innovation and contribute to economic growth. Start-Up India is one such flagship programme, launched in 2016, to build a strong ecosystem that nurtures innovation and start-up businesses in the country.

Under this initiative the government provides benefits such as tax exemptions, easier and faster company registration, funding support through a Fund of Funds, self-certification of compliances, and simplified rules so that first-generation entrepreneurs can start and grow their ventures easily.

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Start-Up India is a scheme of the Government of India to encourage startups and entrepreneurship.

Start-Up India was launched by the Government of India on 16th January 2016. Its purpose is to build a strong ecosystem for nurturing innovation and startups in the country.

Key features / support offered:

• Simplified registration and easier compliance for new businesses.
• Tax benefits and funding support (a fund of funds for startups).
• Faster processing of patents and hand-holding through incubators. …