Rs 830 Crore Allotted For Fund Of Funds For Startups

By Author: GSPU Startup
Total Articles: 15
Comment this article

In the 2021-2022 union budget , the government allotted Rs 830 crore for the fund of funds for startups , higher than the revised estimate amount of Rs 430 crore. The government had established a Fund of Funds for Startups ( FFS) , the corpus being 10,000 crores. The operating agency for the FFS is the Small Industries Development Bank ( SIDBI). Initially the allotment for the fund of funds in 2021-2022 budget was Rs 1,054.97 and later it was revised to 429.99 crore. The allotment for the Startup India programme has been increased marginally to 20.83 crore for 2021-2022 from the Rs 20 crore revised estimate in 2020-2021.

Focusing on the growth of promising entrepreneurs , the Startup India initiative is directed at nurturing and promoting innovation by creating an environment that is productive for them. The government had earmarked a total of Rs 300 crore for a credit guarantee fund. The Department for promotion of Industry and Internal Trade ( DPIIT)’s cumulative allocation had been increased to Rs 7,782.24 crore for the year 2021-22 compared to the revised estimate of Rs 7583.06 crore in 2020 - 2021. The cumulative ...
... allocation for The Department of Commerce has also been hiked to Rs 4986 crore for 2021-2022 against the revised estimate of Rs 4,600 crore in 2020-2021.

It is also to be noted that the total allowance for export promotion schemes like Market Access Initiative and Interest Equalisation Scheme has been hiked to Rs 2365 crore for 2021-2022 as compared to the revised estimate of Rs 2175 crore in 2020-2021.

GSPU Startup is an online platform for mentoring startups. Startup India Registration, MSME Online Registration, CFO Services, Startup Funding, Startup Branding, HR and Legal Services, Business Scale up.