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Government increases budget by 5 times for funding the startups

The Government is all set for funding the startups in a big way. The government announced a five fold increase in its budget for the same. According to Ashutosh Sharma, Secretary, Department of Science and Technology (DST), in the 2016-17 financial year, under the 'Start-Up-India initiative, the government will provide capital to 50 to 80 new ventures with funds ranging from Rs 50 lakhs to 1 crore. The overall budget has increased from Rs 40 crore to Rs 200 crore.

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