Funds for Startup Programme in Budget 2016-17

With the rise in financial problems faced by Startups in India, the Union Minister Nirmala Sitharaman today said that this time, Budget for 2016-17 will consist of enough funds required for Start-Up India programme.

Speaking on the "role of Centre through Start-up India initiative" at a programme here, the minister said "the government, I am sure, will be a lot more flexible in dealing with issues raised by start-ups and we are not just looking at tech-based or application-based start-ups".

She added: "With the kind of start-ups and the kind of activity generated, India was ranked third globally and this cannot happen unless there was ground swell for it and youth are already at it."

"You have everything, with a bit more energy and push from several quarters you can create and sustain an ecosystem which can support a lot of youngsters, who are talented and skilled," she said.

Tamil Nadu will benefit from it and we are with you in whatever you want to do, she assured.

She highlighted another problem,the shortage of women entrepreneurs in the market. She mentioned that there are only 8% of women entrepreneurs in the market and the number should increase as women have an uncanny ability to notice where the problems exist. Furthermore, she gave the example of Padmashree awardee Arunachalam Muruganantham, who came out with napkin machines and motivated women entrepreneurs to come up with new ventures.

Prime Minister Narendra Modi brought in a change in the mindset, trusted the people and the first decision that we took was self-certification. The government launched the start-up initiative only to motivate the people and give it a greater push.