Startups find a place in BJP manifesto
8 April 2019 6:30 PM GMT
The party promises a Rs 20,000 crore seed fund and collateral-free credit of up to Rs 50 lakh for entrepreneurs.
- BENGALURU: The Bharatiya Janata Party ( BJP ) has promised to create a seed startup fund of Rs 20,000 crore to back early-stage companies and a scheme to provide collateral-free credit of up to Rs 50 lakh for entrepreneurs , in its election manifesto released on Monday.
- Prime Minister Narendra Modi had earlier announced a credit guarantee fund with a corpus of Rs 2,000 crore to provide funding facilities to startups in the country, as part of the Startup India action plan in January 2016.
- The BJP-led government had also announced a Rs 10,000-crore fund of funds managed by the Small Industries Development Bank of India ( Sidbi ) in 2016.
- Last week, the opposition Congress said in its poll manifesto that it would create an enterprise support agency to help entrepreneurs in counselling, incubation, access to technology, funding, domestic and export markets, and the creation of new products, services, and intellectual property.
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