Lucknow, Nov 2 (KNN) The Uttar Pradesh government will soon announce the revised Start-Up policy to promote self-employment in the state.

On the direction of chief minister Yogi Adityanath, the IT and electronics department was reviewing the Start-Up Policy 2020 to incorporate new incentives, said an official press release.

As per reports, the Yogi Adityanath administration aims to provide incentives of Rs 5 lakh for making a product from a Start-Up idea and Rs 7.50 lakh for launching it in the market.

Start-Ups will also be given a monthly maintenance allowance of Rs 17,500 for a period of one year. “The target of setting up centres of excellence in the policy has been increased from 3 to 10,” as per the press release.

The state government has also decided to include new sectors in the policy with the view of practical needs, such as women-led Start-Ups, rural impact Start-Ups and circular economy, renewable energy, climate change and commercialisation start-ups to change the destiny of the state’s youth.

A need for amending the start-up policy 2020 was felt in view of the fast development of the sector in the state and the changes that had taken place in the ecosystem in the last couple of years.

The objective behind the revision is to rationalise the policy considering the performance so far, competition with other states and to meet the targets set for the proposed Global Investors Summit in January 2023.  (KNN Bureau)