Indian Government Schemes: What’s New, Who Can Use Them, and How to Apply
India rolls out dozens of schemes every year, but only a few really matter to you. Whether you’re building a startup, filing GST, or living abroad as an NRI, there’s a program that can cut costs or open new doors. This guide pulls the most useful schemes together, tells you exactly who qualifies, and shows the quickest way to get the paperwork done.
Startup India and Other Business Boosters
If you’ve heard of Startup India, you know it promises funding, tax breaks, and easier registration. The real trick is meeting the eligibility checklist: the company must be less than ten years old, have an annual turnover under INR 100 crore, and work in a recognised sector like tech, biotech, or clean energy. Once you confirm those basics, the application itself is just a few online forms on the Startup India portal. Upload your incorporation certificate, a brief business plan, and proof of sector‑specific activity, then wait for the approval email. Most applicants get a response within two weeks.
Beyond Startup India, the government offers sector‑specific schemes such as the Credit Guarantee Fund for MSMEs and the Digital India Initiative, which subsidises tech purchases for small firms. Keep an eye on the Ministry of Micro, Small & Medium Enterprises website – they list deadlines and new incentives every quarter.
GST Registration, Refunds, and Compliance Made Simple
GST can feel like a maze, but you only need to register if your turnover exceeds INR 40 lakhs (or INR 20 lakhs for special‑category states). The online portal walks you through the steps: create a UDYAM registration, verify your PAN, and submit the GST application. Once approved, you’ll receive a GSTIN that lets you claim input tax credit and avoid penalties.
Did you know you can claim a GST refund if you’ve paid more tax than you owe? The eligibility criteria include exporters, businesses that receive tax‑exempt supplies, and those with excess input credit. The process starts with filing Form GSTR‑1 and GSTR‑3B, then filing a refund claim through the GST portal. Most refunds are processed within 30‑45 days if you’ve attached the right invoices.
NRI Loans and Money Transfers – Government Rules You Should Know
Non‑Resident Indians often wonder if they can get a loan back home. The answer is yes, but you’ll need to meet RBI’s foreign exchange guidelines. Banks typically ask for a valid NRI passport, proof of overseas income, and a stable credit history. The loan amount can be used for property, education, or business, and interest rates are usually competitive with local options.
When you send money abroad, RBI caps the total outward remittance at USD 250,000 per financial year for individuals. To stay within limits, use authorized channels like banks or approved money‑transfer operators, and keep all transaction records. Exceeding the cap can lead to penalties, so plan your transfers carefully.
All these schemes share a common theme: they’re easier to use if you prepare the right documents early and follow the online steps exactly. Bookmark the official portals, set reminders for filing dates, and don’t hesitate to ask a tax consultant if a point feels fuzzy. With the right approach, you can turn government programs into real savings and growth for your business or personal finances.
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