Government to reach out to start-ups

The allocation for Start-up India programme has been slashed to Rs 25 crore for 2019-20 from the revised estimate of `28 crore in 2018-19.

Published: 04th February 2019 08:22 AM  |   Last Updated: 04th February 2019 08:22 AM   |  A+A-

Start Up

For representational purposes (File | EPS)

By Express News Service

NEW DELHI: With start-ups feeling left out in the Interim Budget for 2019-20, the Department of Industrial Policy and Promotion (DIPP) is likely to hold discussions with different stakeholders from start-ups and angel investors on Monday, in a bid to address their grievances on the taxation issue.

While the government lent an ear to farmers and unorganised sectors in the Budget, it has reduced allocation for the Start-up India initiative, once considered as the BJP government’s flagship programme.

The allocation for Start-up India programme has been slashed to Rs 25 crore for 2019-20 from the revised estimate of Rs 28 crore in 2018-19.

The government had launched the Start-up India initiative in January 2016, targeted at benefitting a large population of youth and helping them to generate self-employment. 

However, when it came to its last year, the Union government chose to train their focus on rural distress and unorganised sector, relegating Start-up India initiative to the back.

This has left the start-up ecosystem, which is already grappling with angel tax issues, a tad disappointed with the Budget.

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  • Praveen

    Please don't judge the genuinity of startups in which you have failed & your silo mode has devastated many of us. In other way you also didn't identify fraudulent startup setted up for money laundering. Again you failed in not finding a way to solve this by appropriate due diligence mechanisms even after DIR-3 KYC. You wanted startups upfront employing people and wait for your mercy
    15 days ago reply
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