Vikrant Shekhawat : Feb 05, 2025, 06:00 AM
Fund Of Funds: The Government of India has recently announced several new schemes in the budget. One of these schemes which is in the headlines is the "Fund of Funds" (FFS). The government has allocated a budget of Rs 10,000 crore for this scheme. This scheme has been specially designed for startups and its main focus will be on manufacturing and high-tech sectors.Statement of DOIIT Secretary Amardeep Singh BhatiaDepartment of Industry and Internal Trade (DOIIT) Secretary Amardeep Singh Bhatia, while giving information about this scheme, said that it will be completely based on a new type of fund. This scheme will especially help those high-tech startups, which are working towards improving public service. He said that the government is committed to support new and emerging entrepreneurs through this scheme. The Finance Minister announced this scheme last Saturday.Such a scheme was implemented earlier alsoIt is worth noting that earlier in the year 2016, the government had started a similar scheme, which aimed to provide financial assistance to startups. At that time also a fund of Rs 10,000 crore was set. Now the government is presenting this scheme in a more effective and detailed form, so that startups can get more convenience.Amardeep Singh Bhatia also told that the first FFS scheme had created a strong ecosystem of Alternative Investment Fund (AIF) in India. Under this, more than 1,180 startups got investment and a total investment of more than Rs 21,700 crore was made. Now the aim of the new scheme is to provide support to those startups who want to contribute to high-tech innovation and public service improvement.Further planThe new FFS scheme will not be limited to only those startups which need equity investment. Rather it will also prove helpful for those startups which need other types of financial resources. Especially those startups which are working on big projects and require more capital will also be able to take advantage of this scheme.This initiative of the government will give new energy to the Indian startup ecosystem and will prove helpful in promoting innovation and entrepreneurship. This scheme will not only accelerate economic growth but will also play an important role in establishing India as a global startup hub.