Budget 2023: Govt likely to introduce measures to strengthen start-up ecosystem
Union Budget 2023: The government has already taken a series of steps to promote startups in the country, which include schemes like the Startup India initiative, the Fund of Funds for Startups (FFS) scheme etc.
Union Budget 2023: Finance Minister Nirmala Sitharaman is expected to announce in the forthcoming Budget steps to further strengthen the startup ecosystem in the country and address inverted duty issues in certain sectors to promote domestic manufacturing, official sources said. The government has prioritsed the start-up sector and introduced several measures in the last few years.
Fiscal incentives under the production linked incentive (PLI) scheme to some more sectors are also likely to be announced in the Budget, which will be presented by the Finance Minister on February 1.
In a recent interview with Zee Business, Dr. Bhagwat Kishanrao Karad, Minister of State in Finance Ministry, said that the start-up and medium and small enterprises (MSMEs) have created nearly 6 crore jobs in the past years, and thus, the government is likely to introduce more schemes to strengthen the sector.
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