Will ensure that 1/3rd of beneficiaries of Start-up India are women: DPIIT secretary Ramesh Abhishek

By: |
New Delhi | Published: May 30, 2019 3:28:32 PM

The Department for Promotion of Industry and Internal Trade will take steps to ensure that at least one-third of the beneficiaries of Start-up India programme are women, a top government official said Thursday.

The department have announced specific decisions, such as earmarking Rs 1,000 crore out of Fund of Funds for women led/centric start-ups, to support entrepreneurship among women.

The Department for Promotion of Industry and Internal Trade will take steps to ensure that at least one-third of the beneficiaries of Start-up India programme are women, a top government official said Thursday. The department’s secretary Ramesh Abhishek said that they would organise interactions of women entrepreneurs with venture capital funds and banks to ease access to equity and debt.

“We will ensure that at least one-third of beneficiaries of Start-up India are women. Also other departments/states will be encouraged to do the same,” he said in a series of tweets. The department, which is implementing the Start-up India programme, have announced specific decisions, such as earmarking Rs 1,000 crore out of Fund of Funds for women led/centric start-ups, to support entrepreneurship among women. He also said that online and offline courses and programs will be designed and implemented for capacity development of women entrepreneurs.

Their legal, tax and financial advisory needs will be facilitated by connecting them to suitable service providers, Abhishek added. Start-up India is the flagship initiative of the government, launched in January 2016, intended to build a strong ecosystem for the growth of start-up businesses, to drive sustainable economic growth and generate employment opportunities.

The Start-up India action plan provides tax and other incentives including income tax exemption. So far, as many as 18,813 start-ups have been recognised by the department. They can apply for availing incentives.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1ICRA expects muted participation in spectrum auction, sees industry debt rising
2ED attaches JP Morgan assets worth Rs 187 cr, MNC in SC denies wrong doing in Amrapali case
3‘Atma Nirbhar’ MSMEs: How govt measures will enable them for long-term sustainability, profitability