New Delhi: The government has announced the introduction of new funds of Rs 10,000 crore to promote the development of new generations of entrepreneurs in the country. In 2016, the government started a similar scheme with a fund of ten thousand crore rupees. Its contribution extends to the 14th and 15th Finance Commission cycle. The scheme has been set up to promote enterprise capital investment.
The scheme was implemented by Small Industries Development Bank of India (SIDBI). Its task was to allocate capital to the AIF registered with SEBI, which they could invest in startups.
Finance Minister Nirmala Sitharaman said that the optional investment fund (AIF) for startups has received more than Rs 91,000 crore.
Now it will support the establishment of funds of funds and the government’s contribution to it will be Rs 100 crore. He said that its cost would be Rs 10,000 crore. He said that now the new fund of funds will expand its operations and will establish it by adding ten thousand crores to it.
The AIF, along with the Department of Industries and Internal Trade Promotion (DPIIT), has demanded the allocation of more funds under this scheme.
Major AIF startup investment firms have supported FFS Heathal Chirt Ventures, India Cotient, Bloom Ventures, EVCAP, Waterbridge, Ommanivore invention, JM Financial and Fire Suicide Ventures.
To support AIF under FFS, startups must invest at least double under FFS. A total of Rs 20,572.14 crore has been invested in FFS -backed AIF startups till 31 October 2024.
Cities centers
Allocation of ₹ 1,00,000 crore
Cities will be creative redevelopment: Swami
Kosh-2 will be established.
Finance Minister Nirmala Sitharaman has announced funds to make cities the center of development. 100 crores for creative redevelopment of cities and implementation of water and sanitation proposals. A fund of one lakh crore rupees has been allocated.
This fund will provide funding up to 25 percent of the cost of bankable projects. Out of this, at least 50 percent will be funded through bonds, bank loans and public-private partnership. The Finance Minister said that for 2025-26, Rs. An allocation of Rs 10,000 crore has been proposed for this. 50,000 housing units have been constructed under the special scheme for affordable and medium income housing. Whereas, work on other 40,000 units will be completed in 2025. These houses will help middle class families paying rent. Based on the success of this project, the government will set up a special window (SWAMIH) Fund-2 for affordable and medium income housing under the PPP model. Rupee. This fund of Rs 15,000 crore will work towards completing one lakh units.
