PM Modi Approves ₹10,000 Crore Startup India Fund 2.0 and Key Welfare Schemes
Prime Minister Narendra Modi on Friday approved the Startup India Fund of Funds 2.0 with a budget of ₹10,000 crore. This fund aims to strengthen India’s innovation network, with a focus on deep tech, early-stage ideas, advanced manufacturing, and new technologies.
Boosting the Startup Ecosystem
The original Fund of Funds for Startups (FFS) was created in 2016 to help Indian startups access local capital. Under this scheme, the government does not invest directly in startups. Instead, it provides money to SEBI-registered funds, often called “daughter funds.” These funds then invest in growing Indian businesses.
The Small Industries Development Bank of India (SIDBI) manages this process. They select the right funds and oversee the spending. Any fund supported by this scheme must invest at least twice the amount it receives into startups.
New Support for Farmers and Rural Women
In addition to the startup fund, the Prime Minister approved several other major initiatives:
- Agriculture Infrastructure Fund: To strengthen the farming industry, the budget for this fund has been doubled from ₹1 lakh crore to ₹2 lakh crore.
- Lakhpati Didi Scheme: The government has already helped three crore women reach “Lakhpati Didi” status ahead of schedule. The Prime Minister has now doubled the goal, aiming to reach six crore women by March 2029.
Emergency Healthcare: The PM RAHAT Scheme
The Prime Minister also signed files for the PM RAHAT Scheme. This program provides cashless treatment up to ₹1.5 lakh for accident victims. The goal is to ensure that no one loses their life because they cannot afford immediate medical help.
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