Start Up India Budget sees five times hike

Ready to Start Up India? Time is Now!

Start-up India - Stand up India is one of the ambitious initiatives of the prime minister Narendra Modi. Particularly, I am very enthusiastic about this scheme. Start-ups, though more in fashion these days, were not a thing that everyone could think about. Today, just have a walk in the busy official areas of the capital or Mumbai or the silicon valley of India, Bangalore. You will be happy to know that young people of India are taking the challenge of Modi and showing their innovative thinking! Yes, there are many start-ups already working in the country and many new emerge at frequent intervals. Entrepreneurs are looking this initiative of the government as a great opportunity. Indeed, they are not looking for, but now creating jobs!

To take this prudent project of making future leaders in the country, the government has made an amazing five-fold hike to fund the start-ups in the next financial year! The target is to provide seed round of funding to 50-80 companies. The amount will vary around 50 lakh to 1 crore for each company. So, we should be hopeful for the upcoming entrepreneurs in the year 2016-17.

The budget allocated for this scheme in the previous fiscal was 40 crores only. Observing the enthusiasm for start-ups, the government has taken this bold decision. We all know how much the seed funding can boost the speed of a newly set-up company.

According to the reports, sixty percent of the allocated budget will be used to fund the startups from manufacturing and hardware business. Thus, another good news comes to us concerning the make in India scheme. The point is, it's good to woo the outsiders to come and 'make in India', but it's rather better to inspire our own people to stand up and make India a hub of job makers! And I am happy to see that the present government seems serious about it.

Do you also have an idea? Grab your laptop and craft a beautiful strategy to present it to the government. Who knows if you are going to be the next 'big thing' in the country?