Centre slashes allocation for Startup India in FY’20 Budget

47

Budget 2019The government has slashed the allocation assigned for the Startup India programme in the Interim Budget 2019-20.

The Centre, however, has added more fund to the Make in India programme.

As mentioned in the budget document, the allocation for Startup India programme has been reduced to Rs 25 crore for 2019-20 from the revised estimate of Rs 28 crore in 2018-19. Startup India is an initiative which aims as fostering entrepreneurship and promoting innovation by formulating an ecosystem that is encouraging the growth of budding entrepreneurs.

The Centre has assigned 19 components under the Startup India action plan. It involves simplification and offering funding support and incentives, and industry-academia partnership and incubation, according to the documents.

Under the budget allocation, Make in India programme’s kitty increased from the revised estimate of Rs 149 crore in 2018-19 to Rs 473.3 crore for 2019-20.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 6th NBFC100 Tech Summit, New Delhi and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.