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Each schemes are at the moment going by way of an inter-ministerial session, says DPIIT Secretary Guruprasad Mohapatra
At the moment, seed fund schemes are current solely in states like Gujarat and Kerala
Points associated to ESOPs additionally on the anvil, says govt
The federal government is engaged on two schemes to assist startups in India. DPIIT Secretary Guruprasad Mohapatra stated on Sunday (September 13) that the credit score assure and seed funds scheme had been at the moment going by way of an inter-ministerial session course of to work out the contours of the schemes.
“We are working on a credit guarantee scheme and a seed fund scheme. Both are under inter-ministerial consultations,” the secretary advised PTI. Each the schemes would require the approval of the finance ministry after which the DPIIT would search nod of the Union Cupboard for these two schemes.
At the moment, seed fund schemes are current in states like Gujarat and Kerala. “The central government ministries also have, but we want to put a pan India scheme,” the secretary stated. He stated there could be a corpus within the credit score assure scheme which might be given to banks and they’re going to leverage that to lend to startups.
Mohapatra stated a corpus could be arrange within the credit score assure scheme which might be given to banks and they’re going to leverage that to lend to startups. This scheme is probably going to offer banks consolation to lend. The corpus, he stated, could be given as credit score and never as enterprise capital.
Mohapatra stated that sure startups have raised some points pertaining to ESOPs (worker inventory choice plans) and “that we have forwarded to the revenue department.”
Commerce and Trade minister Piyush Goyal had on September three urged startups to attract up a holistic report on points associated to ESOPs (worker inventory choice plans) in order that it may be despatched to the ministry of finance for consultations. The federal government has lately allowed startups to problem ESOPs to workers for as much as 10 years from their registration 12 months. Earlier, the restrict to problem these shares was until 5 years.
On (September 11), DPIIT launched the State Startup Rating by which Gujarat and Andaman & Nicobar Islands had been named the very best performers, whereas Karnataka and Kerala had been named high performers.
Speaking in regards to the subsequent version of rating of states and union territories (UTs) on their startup ecosystem, the secretary stated that the division has already began the method for that.
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