LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Small Business News

Modi 2.0 Government establishes FFS with a corpus of Rs. 10,000 for startups

Modi 2.0 Government today established an FFS allocating Rs 10,000 crore fund. The major objective behind this move is to provide support for the development and growth of innovation-driven startups.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Modi 2.0 Government establishes FFS with a corpus of Rs. 10,000 for startups
The Rs 10,000 FFS corpus would be provided over 14th and 15th Finance Commission cycles based on the progress of the scheme and availability of funds. Photo: Pixabay
Written By: ZeeBiz WebTeam
Updated: Fri, Jun 28, 2019
08:18 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Policy proposal for employment generation, scale-up in MSME sector Policy proposal for employment generation, scale-up in MSME sector
Budget 2021: Govt may announce development of one-stop mobile app for MSMEs Budget 2021: Govt may announce development of one-stop mobile app for MSMEs
Big boost for Maharashtra small business! BSE signs MoU state govt to encourage SME listing Big boost for Maharashtra small business! BSE signs MoU state govt to encourage SME listing
EXPLAINED: Here is how investors can add value to startups beyond the investments EXPLAINED: Here is how investors can add value to startups beyond the investments
MSMEs MDR charges alert! Rs 600 crore - Paytm waives off all charges on merchant transactions MSMEs MDR charges alert! Rs 600 crore - Paytm waives off all charges on merchant transactions

The Modi 2.0 Government today established an FFS (Funds of Funds for Startups) allocating Rs 10,000 crore fund. The major objective behind this move is to provide support for the development and growth of innovation-driven startups, the government mentioned in a written statement. The Rs 10,000 FFS corpus would be provided over 14th and 15th Finance Commission cycles based on the progress of the scheme and availability of funds.

"19,351 Startups across the country have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as on 24.06.2019," Government added. 

The DPIIT (Department for Promotion of Industry and Internal Trade) has recognised 19,351 startups across the country till June 24, 2019.

"SIDBI has committed Rs 3123.20 crore to 49 Securities and Exchange Board of India (SEBI) registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of Rs 27,478 crore," statement of government mentioned adding, "Rs 483.46 crore has been drawn from Fund of Funds for Startups. Further, the AIFs have invested a total of Rs 1,625.73 crore into 247 startups." 

DPIIT is the monitoring agency which functions under the Ministry of Commerce and Industry, Government of India. It is responsible for the overall industrial policies. While Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. It acts as the principal financial institution for promotion, financing and development of (MSME) sector and institutions engaged in similar activities.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Small BusinessMSME
RELATED NEWS
Policy proposal for employment generation, scale-up in MSME sector Policy proposal for employment generation, scale-up in MSME sector
Budget 2021: Govt may announce development of one-stop mobile app for MSMEs Budget 2021: Govt may announce development of one-stop mobile app for MSMEs
Big boost for Maharashtra small business! BSE signs MoU state govt to encourage SME listing Big boost for Maharashtra small business! BSE signs MoU state govt to encourage SME listing
EXPLAINED: Here is how investors can add value to startups beyond the investments EXPLAINED: Here is how investors can add value to startups beyond the investments
MSMEs MDR charges alert! Rs 600 crore - Paytm waives off all charges on merchant transactions MSMEs MDR charges alert! Rs 600 crore - Paytm waives off all charges on merchant transactions

LATEST NEWS

IRCTC Share Price: This Multibagger stock soars to near life-time highs! You can make money from it too, check what experts said

Exclusive: Jet Airways deal will put country's airports at risk

PUBG Update: PUBG New State game may launch in India? Details here

Heranba IPO Allotment Status: Finalised! Didn't get shares? Waiting for refund? Know this important date

NEET 2021 exam: Latest news on exam date, registration details and all one needs to know for appearing in the exam!

HPCL Recruitment 2021: Salary CTC up to Rs 33.95 lakhs - PDF download, Syllabus, Apply Online, Without/Through GATE, Exam Date, Age Limit and more

MTAR Technologies IPO Subscription details on Day 1, Retail investors lap up the opportunity

First extension of Ram Janmabhoomi premises; trust purchases 7,285-sq.Ft land for Rs 1 Cr

Gold Price Today 4-03-2021 – MCX Gold opens in red, falls by Rs 735 since Wednesday; cheaper by Rs 5203 in 2021

Adani Ports share price: Jefferies maintains buy rating with price target of Rs 670

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved