The BJP in its manifesto for the upcoming Lok Sabha elections has promised to launch a new scheme for entrepreneurs to provide collateral-free credit up to Rs 50 lakh and promote startups through the creation of a ?Seed Startup Fund? with a corpus of Rs 20,000 crore. It also aims to establish 50,000 new startups in the country by 2024. BJP has promised that it will ease regulatory requirement for startups and reduce tax compliance burdens for startups by reducing time spent on tax compliance to one hour per month.