India News | UP Govt Approves Start-up Policy
Get latest articles and stories on India at LatestLY. The Yogi Adityanath cabinet Wednesday gave its approval to the Uttar Pradesh Startup Policy 2020, an official release issued here said.
Lucknow, Jul 8 (PTI) The Yogi Adityanath cabinet Wednesday gave its approval to the Uttar Pradesh Startup Policy 2020, an official release issued here said.
There was no comprehensive startup policy in the state and for encouraging a startup culture and building a strong startup ecosystem, an independent and comprehensive policy was required, the release said.
The Cabinet meeting was held through video conferencing.
Elaborating on the aims of the policy, the release said the policy aims at bringing the state among the top three in startups, setting up 100 incubators in the state and at least one in every district, developing an ecosystem for setting up at least 10,000 startups and setting up the biggest incubator of the country in Lucknow.
Also Read | Fire in Delhi: Massive Blaze Erupts at Warehouse in Mundka, 20 Fire Tenders at Spot.
The policy would be valid for five years from the date of notification, the release said.
Special encouragement will be provided for setting up startups in Purvanchal and Bundelkhand areas, the release said, adding that the policy would be helpful in turning the youth from job-seekers to job-providers.
It is expected to create direct employment opportunities for 50,000 people and indirect employment for one lakh people, the release said.
The cabinet also decided that any change in the policy would be done with the approval of the chief minister.
In another decision, the cabinet approved the draft of a proposed legislation 'Karagar (Uttar Pradesh Sanshodhan Vidheyak 2020", mandating stringent punishment for jail inmates using cellphones and internet and those making an entry into jails on false identity, the release added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)