Bumpy road ahead!

PRIME Minister Narendra Modi has reiterated that his government doesn’t want to run and manage businesses, but act as a facilitator. If this is the case then the Start-Up India Action Plan (SIAP), with its 19 broad points encompassing capital, labour, incubation, industry-academia partnership, financial incentives, and handholding, is a non-starter. The reason: one of its lynchpin is the ‘Fund of Funds’, a corpus of Rs.10,000 crore to be set up by the government, where the state-owned Life Insurance Corporation of India (LIC) will be a co-investor, which will decide the venture funds to invest in, and whose representative(s) will sit on the boards of these venture funds.

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About gfilesmagazine

gfiles is the country's first independent magazine written, designed and produced for India's civil services—the vast and formidable network of bureaucracies and public sector organisations that provides continuity and stability to this nation's governance.
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