Rajasthan
Budget: Startups Ecosystem Gets Fillip With 250 Crore Fund In Budget | Jaipur News
Jaipur: Startup ecosystem is set to add heft with the chief minister announcing Rs 250 crore to support them. Presenting the Budget last Friday, Gehlot said Rajasthan Venture Capital Fund will be given Rs 250 crore to handhold the startups.
Besides the fund, they will also enjoy exemption on stamp duty applicable on loan documents executed for the establishment of start-up. The amount has been raised from Rs 10 lakh to Rs 25 lakh.
Stamp duty on purchase or lease above 10 years of immovable property for the establishment of workplace by a startup where founding member or members are of the age group of 18 to 35 years will be exempted.
The limit of single source procurement without tender through startups is raised to Rs 25 lakh from the current limit of Rs 15 lakh.
Mahavir Sharma, chairman of TiE India Angels, said, “If implemented in right pursuit, the Budget announcements will add a significant impetus to the startup ecosystem in the state.”
He said Rs 250 crore will benefit a large number of startups and a proper strategy needs to be chalked out for financing the ventures.
Of late, the startup segment has received a lot of attention from the Centre and state governments. The centre supports startups through multiple channels providing seed money through a number of incubators.
The startup policy recently announced by the state government has many provisions to encourage entrepreneurship and support the ventures financially and otherwise.
Besides the fund, they will also enjoy exemption on stamp duty applicable on loan documents executed for the establishment of start-up. The amount has been raised from Rs 10 lakh to Rs 25 lakh.
Stamp duty on purchase or lease above 10 years of immovable property for the establishment of workplace by a startup where founding member or members are of the age group of 18 to 35 years will be exempted.
The limit of single source procurement without tender through startups is raised to Rs 25 lakh from the current limit of Rs 15 lakh.
Mahavir Sharma, chairman of TiE India Angels, said, “If implemented in right pursuit, the Budget announcements will add a significant impetus to the startup ecosystem in the state.”
He said Rs 250 crore will benefit a large number of startups and a proper strategy needs to be chalked out for financing the ventures.
Of late, the startup segment has received a lot of attention from the Centre and state governments. The centre supports startups through multiple channels providing seed money through a number of incubators.
The startup policy recently announced by the state government has many provisions to encourage entrepreneurship and support the ventures financially and otherwise.
