Page 6 - தேசிய கடன் உத்தரவாதம் அறங்காவலர் நிறுவனம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Department for Promotion of Industry and Internal Trade (DPIIT) Secretary, Ministry of Commerce and Industry, Guruprasad Mohapatra on Friday said that the measures envisaged in the Budget for 2021-22 will further boost the Start-ups in the country. In a press briefing held here, Dr. Mahapatra said that measures such as Incentivizing incorporation of One Person Companies (OPCs) directly benefits Startups and Innovators in the country, according to an official release. The budget incentivizes the incorporation of One Person Companies (OPCs) by amending the Companies (Incorporation) Rules to allow OPCs to grow without any restrictions on paid-up capital and turnover, allowing their conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days and also allow Non-Resident Indians (NRIs) to incorporate OPCs in India.

Seed fundPerson companies opcsDepartment for promotion of industryMinistry of commerceCompanies incorporationNational credit guarantee trustee company ltdCredit guarantee fundPublic companyPerson companyInternal tradeGuruprasad mohapatraOne person companiesNon resident indiansOne person companyNational credit guarantee trustee companyGuarantee fund