The union government of India had launched the Startup India initiative back in 2016. The program focuses on encouraging the growth of entrepreneurs. It also boosts innovation by investing in funds for startups.
That’s not all! It also plans to create an ecosystem that aligns with the creativity and growth of startups.
Recently, with the Union Budget for 2021-22, the government of India has taken another step towards this initiative. Initially in Budget 2020-21, the government of India had allocated a sum of Rs 1,054.97 Crores for the fund of funds for startups.
Later on they revised it to just Rs 429.99 crore. However, now, the government has allocated a sum of Rs 830 crore for Fund of funds for startups in India. This is almost twice more than the estimated allocation of just Rs 430 crores!
To know more about the Union Budget of India and all its efforts to support startups, follow this link here: Major takeaways of the Union Budget of India 2021-2022
