Allocation to SIDBI out of startup funds down at Rs 100 crore in FY17
Updated : July 23, 2018 09:55 PM IST
"Rs 500 crore has been released to SIDBI in FY16 and Rs 100 crore in FY 17 out of Fund of Funds for startups," Minister of State for Commerce and Industry C R Chaudhary said in a written reply to the Lok Sabha.
142 startups have received funding under FFS with catalysed investment of Rs 602.60 crore.
Under the 'Start-up India Action Plan', the government announced incentives, including tax holiday and inspector raj- free regime, besides capital gains tax exemption and Rs 10,000 crore corpus to fund them.
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