In January, 2016, BJP government launched Start-Up India Action Plan to empower start-ups to grow and innovate. 932 Start-up applications have been approved so far.
BJP government has reduced the income tax for the companies with an annual turnover of less than 50 lakhs to 25% from April,2017 in Budget 2017-18.
BJP government is initiating a Credit Guarantee scheme to give start-ups a loan life of up to Rs. 5 Crore., awaiting Cabinet approval.