Rs 2,000 Cr Credit Guarantee Fund For Startups In Offing: DIPP

In addition to softening regulations for Start-Ups to further motivate their entrepreneurship, the government would shortly set up a Credit Guarantee Fund with a corpus of Rs.2000 crores to support their ventures and risk taking abilities, says the Secretary, DIPP, Mr. Ramesh Abhishek.

Without prescribing any time limit as to when the Credit Guarantee Fund would come about, Mr. Abhishek, however, added that with this fund being operational in near future, the Start-Ups could look up for financial assistance for their ventures that would be available easily.

Responding to a suggestion mooted by the President, PHD Chamber, Dr. Mahesh Gupta seeking relaxations on existing taxes for Start-Ups, the Secretary, DIPP said that this issue was also being perused by the government among the various concerned stakeholders since the Start-Ups venture is one of the top priorities of the Modi government as it would not only create wealth for promoter of such ventures but also facilitate employment creation.