If you are a startup looking to buy or rent a space, you might want to consider doing so in Maharashtra. The state has proposed a 100% waiver on stamp duty and registration fees on their first transaction and 50% on the second, according to a Times of India report.
Not just this, the state is going all out to encourage aspiring entrperenuers and has planned a range of funding and fiscal concessions and infrastructure support. All these provisions have been mentioned in the draft of its Innovation and Startup Policy which has been put online for suggestion and objections.
The state is removing the need to seek several approvals through a process of self-certification under various acts. As per the TOI report, the policy envisages at least six incubators with support staff and high-speed internet lines across the state, some of them dedicated to specific sectors, based on the economic activity of various regions. For example, the state may encourage innovation and enterprise in allied sectors such as textiles in the cotton-growing belt Vidarbha.
Speaking to TOI, said Deepak Kapoor, Principal Secretary of HRD said, "Generally startups require monetary resources and human resources to function. In this policy we have looked at providing several fiscal benefits as well given emphasis on encouraging innovation in the school and college years by proposing to revamp the education system."
The state has also proposed a single window system for permissions and licenses to enable ease of doing business. The draft seeks for the timeframe for clearances to be brought down to 12 days.
The draft is also looking to encourage students looking to start up. The policy proposes to allow students to use their start-up plans as project studies or to even seek grace marks or offset their work on a startup against required attendance in college.
Itâ€™s not just Maharashtra, every state is coming up with either a startup policy or funds and innovation centres to encourage entrepreneurs in their state.