Which of the following benefits have been announced in Union Budget 2021 22 for Startups 1 mark 1 Re...........

Economic and social issues (RBI) Monetary and fiscal policies

Which of the following benefits have been announced in Union Budget 2021-22 for Startups? (1 mark)

1. Residency limit for an Indian to set up one person company has been reduced from 182 days to 120 days.

2. Loans ranging from Rs 10 lakhs to Rs 50 lakhs will be given to women / SC / ST for brownfield projects

3. In order to incentivize startups it is proposed to extend eligibility period to claim tax holiday by one more year till 31st March 2022.

4. Government has announced revision in definition of small companies by increasing their threshold for paid up capital from not exceeding Rs 50 lakh to not exceeding Rs 2 crore and turnover from not exceeding Rs 2 crore to not exceeding 10 crore.

This questions was previously asked in

RBI Grade B Phase 2 Exam (2021)

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1 and 2 only

2 and 4 only

1 and 3 only

3 and 4 only

2 and 3 only

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Explanation:

Let’s break this down:

- Statement 1: Reducing the residency limit for an Indian to set up a one person company from 182 to 120 days? Yes, that was announced in Budget 2021-22 to encourage entrepreneurship.

- Statement 2: Loans from Rs 10 lakh to Rs 50 lakh for women / SC / ST for brownfield projects? Nope, that’s not something covered in start-up announcements for 2021-22. That’s related to earlier Stand Up India scheme provisions, not new budget measures.

- Statement 3: Extending eligibility to claim tax holiday by one more year for start-ups (till 31st March 2022)? That’s spot on. This was specifically aimed at helping startups.

- Statement 4: Revising small company definition by upping capital and turnover thresholds? True, it was in the budget but this applies to “small companies” in general, not targeted at startups alone. The measure makes compliance lighter for smaller companies, but not all are startups.

Now, the correct option:

- Option 3: 1 and 3 only.

That’s exactly right. These are the startup-focused announcements made in the 2021-22 Budget.