Govt recognises 114,902 entities as startups as on Oct 31: Goyal tells LS

The government has recognised 1,14,902 entities as startups as on October 31, Parliament was informed on Wednesday.

These eligible firms are allowed to seek fiscal incentives under the Startup India Action Plan, which was launched in January 2016, and that includes income tax exemption for three years.

Replying to a question in the Lok Sabha, Commerce and Industry Piyush Goyal said the action plan includes 19 items spanning across areas such as simplification and handholding, funding support and incentives and industry-academia partnership and incubation.