UP rolls out major incentives to boost startups

LUCKNOW: In a bid to boost startups, particularly in the information technology sector, the Uttar Pradesh government has waived off the stamp duty on land purchased for building offices or bulit-up offices, an official said on Friday.

This has been done under the IT and StartUp Policy-2016 rolled out by the Akhikesh Yadav government.

However, the government has put a rider that these units getting exemptions must commence their operations within the next three years.

Similarly, the electricity duty for these units have been waived off for almost five years. It has also been decided to provide grants to these units to contribute to the employees' provident fund.