Government Scheme in Budget 2023: To Strengthen Startup Ecosystem
The government Scheme in Budget 2023 which will be delivered on February 1, is anticipated to include fiscal incentives under the production-linked incentive (PLI) scheme to a few additional sectors.
According to official sources, the government is anticipated to announce in the upcoming budget measures to further enhance the startup environment in the nation and fix inverted duty difficulties in several industries to support domestic production.
The Budget which will be presented on February 1, is likely to include announcements of fiscal incentives under the production-linked incentive (PLI) program to a few additional sectors.
Additionally, they claimed the government may think about funding infrastructure projects that have been approved by the Network Planning Group (NPG) which was established as part of the PM Gati Shakti initiative.
The Gati Shakti – National Master Plan was introduced by Prime Minister Narendra Modi on October 13 of last year with the intention of creating integrated infrastructure to lower logistical costs.
For unified planning and integration of the ideas, the NPG is represented by representatives from several connectivity infrastructure ministries and departments including their heads of network planning division.
Before creating a DPR (detailed project report) during the planning stage, all of these departments first request approval from the NPG.
Inverted tariff arrangements place a heavier burden on inputs than finished goods, which causes credits to accumulate and cascade costs.
A number of actions have already been done by the government to encourage startups in the nation. Fund of Funds for Startups (FFS) scheme, Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) are implemented as part of the Startup India initiative to provide capital at various stages of a startup’s commercial cycle.
In order to foster innovation and encourage private investment in the startup ecosystem, the government established the Startup India initiative in January 2016.
With the goal of creating a robust environment for fostering innovation and enticing private investment in the startup ecosystem, the government announced the Startup India initiative in January 2016.