Modi's 100 Days: 10,000-crore Fund Initiated For Startups

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BANGALORE: From the day Narendra Modi took charge as the Prime Minister of India, he is steadfastly getting on  his work and asked his Cabinet colleagues to set a 100-day agenda with focus on efficient governance, delivery and implementation of programmes.

Believing that the progress of states is crucial for the country’s development, he also instructed his Council of Ministers as well as the respective MPs of their constancy to give priority to the issues brought forth by the state governments.

As the Modi-led NDA government is nearing to its 100 days completion on September 6, the PM has asked ministries to come up with their achievements to be shared with the public. The Indian entrepreneurs are likely to get benefitted as Union Finance Minister Arun Jaitley initiated a 10,000-crore fund for startups, reports Shelley Singh of the Economic Times.

On top of this, the new government is working on 'entrepreneur-friendly legal bankruptcy framework' that will permit failed startups to shut shop and will fund 200-crore fund for Dalit entrepreneurs to be managed by Industrial Finance Corporation of India.

Padmaja Ruparel, President, Indian Angel Network, a Delhi-based group of angel investors said, "Can't remember a new government's first budget that devoted so much to entrepreneurship. The difference that startups can make to the economy (by creating wealth, jobs, etc,) was appreciated by the government," reports ET.

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