Modi’s pet Startup India gets BJP manifesto push; Rs 20,000 crore startup fund and more promises
7 April 2019 6:30 PM GMT
BJP, in its manifesto today, announced that it will facilitate setting up of 50,000 new startups in India by 2024. Currently, there are 17,578 startups registered under Startup India programme and 182 have been funded.
- The government will also set up 500 new incubators and accelerators by 2024.
- Outlining the growth map for startups in India, the manifesto said that the party will create a 'seed startup fund' worth Rs 20,000 crore and provide collateral-free credit up to Rs 50 lakh for entrepreneurs under a new loan scheme.
- Currently, there are 17,578 startups registered under Startup India programme and 182 have been funded.
- With respect to further easing of the regulatory scenario in India for startups, the manifesto said that it will target time spent on tax compliance at just one hour per month.
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