There has been a 126 per cent soar in the range of jobs created by DPIIT-known startups from April last 12 months under the Startup India marketing campaign released by Prime Minister Narendra Modi in January 2016, in keeping with the latest authorities data. From 1,87,004 jobs said by 16,105 startups.
As, tweeted through former DPIIT Secretary Ramesh Abhishek in June closing 12 months, the figures have scaled to 4,22,986 jobs said by 34,267 startups as of September 6, 2020, in keeping with Commerce Minister Piyush Goyal. The minister had shared information in respond to a query in the Rajya Sabha in advance this week.
The Fund of Funds was installed in January 2016 with a corpus of Rs 10,000 crore. According to Goyal, Rs 1322.05 crore was launched to SIDBI as on September 9, 2020, out of which Rs 500 crore was launched in 2015-16; Rs 100 crore in 2016-17; Rs 431.3044 crore in 2019-20 and Rs 290.75 crore in 2020-21. Moreover, Rs 1054.97 crore was provisioned under FFS for BE 2020-21.
As on November 21, 2019, forty seven SEBI registered Alternative Investment Funds (AIFs) had raised a corpus fund of Rs 25,728 crore whilst Rs 695.94 crore has been drawn from the FFS. Rs 2,669.83 crore have been invested into 279 startups.
As of December 2019, in keeping with Goyal, 2,85,890 jobs have been mentioned by 23,657 startups. Currently, 37,171 startups were known till date out of which majority are in Delhi (14,840), Maharashtra (18,978), Karnataka (11,587), and Uttar Pradesh (10,241), in keeping with the real-time facts available on the Startup India portal.
In terms of employment said, Maharashtra (80,714 jobs), Karnataka (71,533 jobs), Delhi (49,497 jobs), UP (33,803 jobs), and Haryana (29,770 jobs) were the top states, in keeping with the facts shared by Goyal.
Importantly, so as to increase startup investments in India, the Standing Committee on Finance chaired through BJP chief Jayant Sinha had endorsed to the Centre to abolish tax on Long Term Capital Gains (LTCG) for all investments in startups.
The committee had submitted a document to the Lok Sabha speaker closing week noting that investments by angel funds, opportunity funding funds, funding LLPs have to be exempted from taxation of LTCG for at least the following years to enhance investments all through the Covid pandemic. “After this 2 year period, the Securities Transaction Tax (STT) may be applied to CIVs so that sales neutrality is maintained,” the report had said.
