new delhi prime minister narendra modi today launched the new startup india scheme to promote and nurse entrepreneurship in the country ensuring minimum interference from the government with attractive tax incentives i had spoken about startup india from the red fort and today we are seeing what this is all about we are here so that you can tell us what we should not do the prime minister said at an event in new delhi on saturdayread also10 big points from pm modis address lauding the intellectual capital that the country has today pm modi said when i was listening to ritesh founder oyo rooms i wondered why a chai wala did not think of starting a hotel chain ideas are many but some leave the idea halfway while others get very involved in the idea but today when those people have become successful everyone have started thinking about ways to start their own startups people who have achieved this success today they are not just entrepreneurs but are adventurous as well success of entrepreneurs depends on their ability to take risk he said thats how uber became kuber he added to a round a applause pm modi also praised the efforts of entrepreneurs in the country saying sometimes i wish god had given me capabilities like you people haveread alsojapans softbank bets on india over china to hike investment to 10 billion the prime minister also announced a slew of measures by the government to promote startups a dedicated fund with rs 10000crore corpus will be created for funding of startups he said also announcing that a threeyear income tax holiday will also be given to startups he also said that the government is working to make it easy for budding entrepreneurs to start a business or exit from it no inspection will be done for three years of startup businesses in respect of labour environment law compliance post selfcertification the prime minister said he also announced the establishment of atal innovation mission to give impetus to innovation and encourage the talent among people earlier finance minister arun jaitley also spoke at the inaugural session of the daylong event where he highlighted modi governments efforts to promote startups in the country we ostensibly broke away from the license raj in 1991 conceived with idea that the government will decide which businesses can run said jaitley our effort in last few years has been to restrict role of the state in policy domain he said assuring startup india scheme will follow that pathread alsogovt working to make start exit easy for entrepreneurs he also said that the event shows a change of mindset in the country the state creates an ecosystem in which people can function the only relation with the state entrepreneurs will have is to pay taxes at the end of the year and continue to prosper themselves and make the country prosperous he said the event at the vigyan bhavan official conference complex has been a top