According to data available on the Startup India portal, India has emerged as the third largest ecosystem for startups globally with more than 1,16,679 DPIIT-recognized enterprises across the country. Since the announcement of the Startup India initiative in 2016, several schemes and initiatives have been launched to promote the growth of India's startup ecosystem. Pool of initiatives for startups in Budget 2023The Government of India has taken several steps to promote startups in India, Fund of Funds for Startups (FFS) scheme, Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) have been launched under Startup India. Startups' expectations from Budget 2024Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on February 1 next year. Also, any sign of setting up a dedicated startup fund for new age industries like electric vehicles and renewable energy, in addition to the existing Startup India Seed Fund Scheme (SISFS), could have a positive impact on sentiment,” Singh pointed out.

Source: Mint December 20, 2023 06:52 UTC