Government Policies and Regulations for Startups

Description: This quiz will test your knowledge on the government policies and regulations that are in place to support startups in India.
Number of Questions: 15
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Tags: startups entrepreneurship government policies
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Which government body is responsible for formulating and implementing policies for startups in India?

  1. Ministry of Commerce and Industry

  2. Ministry of Finance

  3. Ministry of Micro, Small and Medium Enterprises

  4. NITI Aayog


Correct Option: A
Explanation:

The Ministry of Commerce and Industry is responsible for formulating and implementing policies for startups in India. It is also responsible for promoting foreign direct investment and trade.

What is the name of the flagship program of the Government of India that provides financial assistance and other support to startups?

  1. Startup India

  2. Make in India

  3. Digital India

  4. Skill India


Correct Option: A
Explanation:

Startup India is the flagship program of the Government of India that provides financial assistance and other support to startups. It was launched in 2016 with the aim of promoting entrepreneurship and innovation in the country.

Which of the following is not a benefit offered to startups under the Startup India program?

  1. Tax exemption for three years

  2. Easy access to credit

  3. Mentorship and incubation support

  4. Government procurement preference


Correct Option: D
Explanation:

Government procurement preference is not a benefit offered to startups under the Startup India program. However, startups are eligible for other benefits such as tax exemption for three years, easy access to credit, mentorship and incubation support.

What is the minimum paid-up capital required for a company to be eligible for registration as a startup under the Startup India program?

  1. Rs. 1 lakh

  2. Rs. 10 lakhs

  3. Rs. 25 lakhs

  4. Rs. 50 lakhs


Correct Option: A
Explanation:

The minimum paid-up capital required for a company to be eligible for registration as a startup under the Startup India program is Rs. 1 lakh.

Which of the following is not a criterion for a company to be eligible for registration as a startup under the Startup India program?

  1. The company must be incorporated in India

  2. The company must be less than seven years old

  3. The company must have an annual turnover of less than Rs. 25 crores

  4. The company must be engaged in innovation or development of new products or services


Correct Option: C
Explanation:

The company must have an annual turnover of less than Rs. 25 crores is not a criterion for a company to be eligible for registration as a startup under the Startup India program.

What is the name of the online portal launched by the Government of India to facilitate registration of startups and provide information about various government schemes and initiatives for startups?

  1. Startup India Hub

  2. Make in India Portal

  3. Digital India Portal

  4. Skill India Portal


Correct Option: A
Explanation:

Startup India Hub is the online portal launched by the Government of India to facilitate registration of startups and provide information about various government schemes and initiatives for startups.

Which of the following is not a benefit offered to startups under the Startup India Hub portal?

  1. Online registration of startups

  2. Access to government schemes and initiatives

  3. Mentorship and incubation support

  4. Tax filing assistance


Correct Option: D
Explanation:

Tax filing assistance is not a benefit offered to startups under the Startup India Hub portal.

What is the name of the government body that provides funding and support to startups in the technology sector?

  1. National Science and Technology Entrepreneurship Development Board (NSTEDB)

  2. Department of Science and Technology (DST)

  3. Ministry of Electronics and Information Technology (MeitY)

  4. All of the above


Correct Option: D
Explanation:

All of the above government bodies provide funding and support to startups in the technology sector.

Which of the following is not a benefit offered to startups under the NSTEDB program?

  1. Financial assistance

  2. Mentorship and incubation support

  3. Access to government schemes and initiatives

  4. Tax exemption


Correct Option: D
Explanation:

Tax exemption is not a benefit offered to startups under the NSTEDB program.

What is the name of the government body that provides funding and support to startups in the manufacturing sector?

  1. Small Industries Development Bank of India (SIDBI)

  2. National Small Industries Corporation (NSIC)

  3. Ministry of Micro, Small and Medium Enterprises (MSME)

  4. All of the above


Correct Option: D
Explanation:

All of the above government bodies provide funding and support to startups in the manufacturing sector.

Which of the following is not a benefit offered to startups under the SIDBI program?

  1. Financial assistance

  2. Mentorship and incubation support

  3. Access to government schemes and initiatives

  4. Tax exemption


Correct Option: D
Explanation:

Tax exemption is not a benefit offered to startups under the SIDBI program.

What is the name of the government body that provides funding and support to startups in the agriculture sector?

  1. National Bank for Agriculture and Rural Development (NABARD)

  2. Ministry of Agriculture and Farmers Welfare

  3. Agricultural and Processed Food Products Export Development Authority (APEDA)

  4. All of the above


Correct Option: D
Explanation:

All of the above government bodies provide funding and support to startups in the agriculture sector.

Which of the following is not a benefit offered to startups under the NABARD program?

  1. Financial assistance

  2. Mentorship and incubation support

  3. Access to government schemes and initiatives

  4. Tax exemption


Correct Option: D
Explanation:

Tax exemption is not a benefit offered to startups under the NABARD program.

What is the name of the government body that provides funding and support to startups in the social sector?

  1. Social Entrepreneurship Fund (SEF)

  2. Ministry of Social Justice and Empowerment

  3. National Commission for Women (NCW)

  4. All of the above


Correct Option: D
Explanation:

All of the above government bodies provide funding and support to startups in the social sector.

Which of the following is not a benefit offered to startups under the SEF program?

  1. Financial assistance

  2. Mentorship and incubation support

  3. Access to government schemes and initiatives

  4. Tax exemption


Correct Option: D
Explanation:

Tax exemption is not a benefit offered to startups under the SEF program.

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