Fund Of 1,000 Crore For Startups, Defence Outlay 246,727 Crore

NEW DELHI: In order to boost the spirit of entrepreneurship, the government plans to set up Self Employment and Talent Utilisation body and would keep aside 1,000 crore to help startups, Finance Minister Arun Jaitley said Saturday.

"The government has decided to help the startup business and also to keep 1,000 crore for this purpose," the minister said while presenting the Union Budget.

The government had provided an outlay of 246,727 crore for defence for 2015-16.

Jaitley said in his budget speech that the government was following a policy of transparency and quick decision-making in procurement to keep the defence forces prepared for any eventuality.

He said that government was pushing for Make in India policy in defence manufacturing. He added the defence outlay had been enhanced over the last fiscal at 246,727 crore.

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