Additional Rs 10,000 crore for new Fund of Funds scheme for startups: Sitharaman

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Budget league of Parliament, nirmala sitharaman, concern news, amerind express Union Finance Minister Nirmala Sitharaman presents the Union Budget 2025-26 successful the Lok Sabha, successful New Delhi. (Source: PTI)

After doing distant with Angel taxation during the past Budget, Finance Minister Nirmala Sitharaman connected Saturday announced a caller Fund of Funds strategy (FFS) with an expanded scope and a caller publication of different Rs 10,000 crore.

“Alternative Investment Funds (AIFs) for startups person received commitments of much that Rs 91,000 crores. These are supported by a money of funds acceptable up by the Government of India publication of Rs 10,000 crore. Now a New Fund of Funds strategy with an expanded scope and a caller publication of different Rs 10,000 crore volition beryllium acceptable up,” Sitharaman said.

Indian startups witnessed a 66 per cent driblet successful backing successful presumption of worth betwixt January and November 2023, arsenic per study by GlobalData. Indian startups raised $6.9 cardinal crossed 1,013 task superior (VC) backing deals successful the past 11 months this year. In 2022, startups had raised $20.2 cardinal successful the aforesaid period.

Ravi Dutta Mishra is simply a Principal Correspondent with The Indian Express, covering argumentation issues related to trade, commerce, and banking. He has implicit 5 years of acquisition and has antecedently worked with Mint, CNBC-TV18, and different quality outlets. ... Read More

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