BENGALURU: While greeting the nation for Christmas and New Year, Prime Minister Modi also made mention about Startup India, Stand-Up India plan that is to be launched on the January 16, next year.

As per PM Modi, it is "Start-up India, Stand-up India has brought new opportunity for the youth of our country. Be it manufacturing, service sector or agriculture, this new initiative will bring in new ideas, new ways, and new innovations."

To further nurture the project, high-level, inter-ministerial panel will be introduced who will act as a fulcrum to this startup plan. The panel will evaluate every startup idea of the country to check if it qualifies for incentives. The panel members are mostly y secretaries of the departments of information technology, biotechnology and others.  Every detail about this panel will be announced in the January event, reports Economic Times.

The panel is an initiative of Department of Industrial Policy and Promotion (DIPP) and will meet every fortnight to discuss on proposals.

The main aim is to easy the process of business in India with faster approvals, better finances and tax planning.

As the panel will evaluate and bring in live prospective startup ideas, its also expected that the same will generate employment, set higher standard of income and pave a way to growth.

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An official aware of on the matter comments, "There would be an inter-ministerial body to oversee proposals.”The official also adds, "Innovation will be the key in any idea." 

As PM Modi made announcement regarding this in Mann ki Baat radio programme, he said, "On January 16, the government of India will unveil the full action plan of Start-Up India, Stand-Up India," the Prime Minister had said. "A structure will be presented before you. This programme will be connected to the country's IITs, IIMs, central universities and NITs. Wherever there are youth, they will be linked through live connectivity."

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