In the Economic Survey presented in the House, 2020-21, many things have been said about the better future of startups. According to the survey, in the past year, 12 startups have achieved unicorn or more than one billion dollars worth of status, going beyond the odds of the Corona period. With this, India is now home to 38 startups worth one billion dollars. However, rapid progress is yet to be made in this direction.
In the economic survey presented on Friday, the government has expressed the hope that the start-up engine can play a role in the development of the country. In order to encourage them, all those elements are present in the ecosystem prepared by the government with the help of which they will be able to take the country to a new height. As of December 23, 2020, the rapidly growing number of startups in the country reached 41,061. Of these, 4.7 lakh people have also been given employment.
To help start-ups, the government has already started a ‘Start-up India, Stand-up India’ campaign. Apart from this, a lump sum fund of Rs 10,000 crore has also been prepared to overcome the shortage of funds. With a view to giving new impetus to growth, 319 start-ups have also been given income tax relief.
The survey revealed that currently, more than 40 start-ups in the country are working on space and satellite related projects. With their help, India is preparing to take a quantum leap in the field of space. The survey said that SIDBI and other government institutions are providing funds to help start-ups. In this direction, SIDBI is providing a total of Rs 4,326.95 crore.