BJP promises ₹200 billion for startups now even as an existing fund remains mostly unused
- The BJP’s
manifestopromises a seed startup fundof ₹200 billion.
- However, as of December 2018, the government’s ₹100 billion startup fund-of-funds had disbursed only 19% of the amount.
- Currently, only 182
startupshave been funded by the government.
However, its startup
The current number of funded startups today stands at 182, according to the official Startup India website. The government had said that the ₹10,000 crore fund would be released in two tranches until 2025.
According to the new election Manifesto, the BJP has also promised a new scheme to provide collateral-free credit up to ₹50 lakh for entrepreneurs. The manifesto also says that 50% of the loan amount will be reserved for women entrepreneurs.
The party wants to establish 50,000 new startups by 2024 along with 500 new incubators and accelerators.
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