Start-ups Have The Potential To Become Country’s Growth Engine

Start-ups have the potential to become the country’s growth engine, the number of Indian start-ups has increased to 41,061.

In the Economic Survey presented in the House, 2020-21, many things have been said about the better future of start-ups.

According to the survey, over the past year, 12 start-ups have achieved unicorn or more than one billion dollars worth of status over the years.

With this, India is now home to 38 unicorns worth one billion dollars. However, rapid progress is yet to be made in this direction.

In the economic survey presented on Friday, the government has expressed the hope that the start-up engine can play a role in the development of the country.

In order to encourage them, all those elements are present in the ecosystem prepared by the government with the help of which they will be able to take the country to a new height.

As of December 23, 2020, the rapidly growing number of startups in the country reached 41,061. Of these, 4.7 lakh people have also been given employment.

To help start-ups, the government has already started a ‘Start-up India, Stand-up India’ campaign. Apart from this, a lump sum fund of Rs 10,000 crore has also been prepared to overcome the shortage of funds.

With a view to giving new impetus to growth, 319 start-ups have also been given income tax relief.

The survey revealed that currently, more than 40 start-ups in the country are working on space and satellite-related projects. With their help, India is preparing to take a quantum leap in the field of space.

The survey said that SIDBI and other government institutions are providing funds to help start-ups. In this direction, SIDBI is providing a total of Rs 4,326.95 crore.

In two years, the percentage of rural students owning smartphones increased from 36 to 62: Economic Survey.

The campaign to provide quality education to all will be faster. The government has drawn its full blueprint through the Economic Survey. It states that India will be the world’s largest youth population in the next decade.

In such a situation, it is important that everyone is provided with quality education. This will show improvement in the standard of education and will also determine the future of the country.

Along with this, due to the manner in which online education became popular during a lockdown, it is expected to reduce many educational disparities through it.