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GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
LOK SABHA
UNSTARRED QUESTION NO: 2727
ANSWERED ON:  12.03.2018
Startup India Programme
ANURAG SINGH THAKUR
UDIT RAJ
K. C. VENUGOPAL
BAIJAYANT "JAY" PANDA
Will the Minister of



COMMERCE AND INDUSTRY be pleased to state:-


(a) the number of startups registered and supported by the Government under the startup India programme since its inception and success achieved in this regard so far;

(b) whether the Government proposes to make any changes in the existing regulations for startups and if so, the details thereof;

(c) whether the Government proposes to introduce certain schemes including a Credit Guarantee Fund scheme to enable startups to get collateral free loans for their operations in the country, if so, the details thereof including the terms and conditions of the schemes along with the other financial support and incentives being extended to the startups in the country; and

(d) the other steps taken by the Government to boost the startup India programme in the country?


ANSWER
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THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY
(SHRI C.R. CHAUDHARY)

(a): 7837 startups have been recognized by the Government under the ‘Startup India’ initiative since its inception. The achievements are placed at Annexure I.

(b): The Government has undertaken a number of reforms to ease the regulatory regime for Startups. These are placed at Annexure II. However, no such specific proposal to make changes in the existing regulations for startups is presently under consideration.

(c): No decision has been taken by the Government regarding setting up a Credit Guarantee Scheme for Startups.

A Fund of Funds for Startups (FFS) with a corpus fund of Rs. 10,000 crore has been established for development and growth of innovation driven enterprises. Till date, a total amount of Rs. 600 crore has been released to SIDBI for the FFS. Rs.1050.7 crore has been committed by SIDBI to 24 Alternative Investment funds (AIFs)and Rs.122.86 crore has been disbursed to 17 AIFs, who in turn have invested Rs.517.92 crore in 109 Startups.

A total of 87 Startups have been given tax exemption under Section 80 IAC of Income Tax Act. Further, 768 Startups have been facilitated for 80% rebate in patent filing fees. 858 Startups have availed 50% rebate in Trademark filing fee.

(d): The steps taken by the Government to boost the Startup India programme have been listed at Annexure I.


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