Startup India - A New Paradigm for Young Entrepreneurs (A Conceptual Study)

Abstract

India is the second largest populous country in the world with 1.2 billion population strength. To cover up this large population there exist large potentiality of job market in India. But According to the latest Asia Pacific Human Development Report, India is facing severe scarcity of job market; growth in unemployment among young graduates and it will last for next 35 years. According to Labor Ministry data, around 1 million people enter the workforce in India every month. To eradicate this scarcity of job market, ours Honorable Prime Minister Dr. Narendra Modi, announced on 15th August 2015, “Start Up India, Stand Up India” to promote Bank Financing for start ups and offer incentives to boast entrepreneurship and job creation. This research paper has made a Literature Survey analysis regarding its challenges, prospects and its financing resources. Secondary data collected from various websites, journals, newspaper articles etc.

Keywords: Unemployment, Start up India, Work Force, Bank Financing, Entrepreneurship