Rahul promises 3-year-tax holiday for entrepreneurs

Rahul promises 3-year-tax holiday for entrepreneurs

  • Terming Karnataka as India's start-up hub, Gandhi told the gathering that his party's manifesto also promised to provide incentives, tax credits and easy bank loans based on how many jobs an entrepreneur or a company create.
  • Angel tax is levied on premium paid on investments in startups and unlisted firms to curb "laundering" under the Income Tax Act, as their valuations increase despite stagnant or declining revenues.
  • Accusing Prime Minister Narendra Modi of taking money of the ordinary citizens by making them stand in queues for days during demonetization in November 2016, Gandhi said the party's revolutionary Nyay scheme would remonetize India, by crediting in the bank accounts of 25 crore people Rs 6,000 per month or Rs 72,000 per year for 5 years.
  • Lamenting that the current unemployment rate was the worst in the last 45 years, Gandhi said the NDA government's flagship programmes such as 'Made in India', 'Startup India' and 'Standup India' did not take off as no investments came from domestic or overseas investors.


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