Cong to give 3-year blanket pass to new ventures, abolish angel tax: Rahul Gandhi

Unveiling his economic agenda, Congress President Rahul Gandhi Thursday said if voted to power his party will cut red tape for businesses, exempt new enterprises from seeking any permission in first three years, make it easier to get bank loans and scrap angel tax on start-ups.

In an exclusive interview to PTI a fortnight ahead of the first phase of the Lok Sabha polls starting April 11, Gandhi said his government's focus will be on job creation and that entrepreneurs will get fiscal and tax incentives based on their ability to create jobs.

These will form part of Congress party's election manifesto that will be released next month, he said.

"For the first three years of setting up a new business, we are going to free you up from red tape. You will not need to ask for permission for anything," Gandhi said. "Don't bother about anything, there is no permission you need. Start your business, get to work."