2,000-Cr Credit Guarantee Fund For Start-Ups Soon

30
cmt right
24
Comment Right
29
cmt right
8
cmt right
Printer Print Email Email


NEW DELHI: The government will soon set up a credit guarantee fund for start-ups with a corpus of 2,000 crore with the aim to provide them with easy funding options, a top official said here on Saturday.



"With this corpus of 2,000 crore in place, the start-ups would receive financial support for their ventures, which will further motivate entrepreneurship," Ramesh Abhishek, Secretary, Department Of Industrial Policy and Promotion (DIPP), said while addressing a conference on "Start-Up India, Challenges and Sustainability", organised by the PHD Chamber of Commerce and Industry (PHDCCI).



Without prescribing any time limit for the fund to come up, Abhishek said with the fund becoming operational in the near future, start-ups can look forward to financial assistance for their ventures that would be available easily.



Responding to a suggestion mooted by PHD Chamber President Mahesh Gupta, seeking relaxations in existing taxes for start-ups, Abhishek said that the issue is being pursued by the government with various stakeholders.



Speaking on the occasion, Minister of State for Human Resource Development Mahendra Nath Pandey said that sufficient incentives should be given to those who wish to set up their venture, to promote the spirit of innovation.



Read Also:
Tutor-Hunting Made Easy By Start-Up Firm
Google's Rajan Anandan Invests In Women Health Tracker Startup


Source: IANS
SPOTLIGHT
Startup City
India Accelerator, a GAN partnered, mentorship-driven, acceleration program hosted ‘The Inner Ci..
Business
Hinduja Global Solutions here on Monday said it has set up a centre of excellence to train disable..
Entertainment
First things first. "Made In Heaven" is the sexiest webseries India has produced, no doubt about i..
US Indian
An Indian-American teenager has been conferred with the 2019 National STEM (Science, Technolog..
Career
IIT Roorkee organized an MoU exchanging ceremony between the Govt. of India Department of Scie..
Gadgets
Chipset-making giant Qualcomm has listed chipsets such as Snapdragon 855, 845, 710, 675 and 67..
Finance
The Department of Telecommunications (DoT) in consultation with the Finance Ministry plans to spli..
Enterprise IT
PayByPhone, the global leader in mobile parking payments, today announced that it will appoint And..
Technology
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suffere..