“Budget 2024-25 to Boost StartUps with Bold Proposals,” says Dr. Jitendra Singh
GG News Bureau
New Delhi, 24th July. Union Minister Dr. Jitendra Singh lauded the Union Budget 2024-25 for its bold and innovative proposals aimed at boosting startups and the startup ecosystem. Key measures include ending the “Angel Tax” and introducing paid internships, which are expected to significantly enhance the growth of startups in India.
Dr. Singh highlighted several major announcements:
- Mudra Loan Limit: Increased to ₹20 lakh from the current ₹10 lakh for those who have successfully repaid previous loans under the ‘Tarun’ category.
- Anusandhan National Research Foundation: Allocated ₹1 lakh crore, with plans for a fivefold increase over the next decade.
- Space StartUp Venture Fund: ₹1,000 crore venture fund established to support space startups.
Prime Minister Narendra Modi’s package of five schemes will provide innovative initiatives for employment, skilling, and other opportunities for 4.1 crore youth over five years.
Other key announcements include:
- Bharat Small Reactors: In partnership with the private sector, a collaboration in R&D for Bharat Small Modular Reactors.
- Increased Budget for DSIR: Enhanced allocation from ₹5,746.51 crore in 2023-24 to ₹6,323.41 crore in 2024-25, with ₹6,265.80 crore earmarked for CSIR.
- Women’s Welfare Schemes: An allocation of over ₹3 lakh crore for women-led development initiatives.
Dr. Jitendra Singh expressed his satisfaction with the budget, calling it exceptional and empowering, especially for startups and youth in India.
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