Rs 163 cr allocated to 41 incubators under Startup India Seed Fund Scheme: Goyal

The government on Wednesday said as on November 25 this year, Rs 163.30 crore has been allocated to 41 incubators selected so far under Startup India Seed Fund Scheme. Commerce and Industry Minister Piyush Goyal in a written reply to the Lok Sabha said Rs 945 crore has been sanctioned under the scheme for years starting from 2021-22.

“As of November 25, 2021, Rs 163.30 crore has been allocated (committed) to 41 incubators selected so far under the scheme,” he said. He also said as of October 2021, Rs 2,291.29 crore has been allocated by the ministry to Small Industries Development Bank of India (SIDBI), the implementing agency, under Fund of Funds for Startups (FFS) Scheme. A corpus of Rs 10,000 crore has been sanctioned under FFS Scheme, spread over 14th and 15th Finance Commission cycles.

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In a separate reply, Minister of State for Commerce and Industry Som Parkash said in the last seven years (2014-21), India has received USD 440.27 billion foreign direct investment (FDI). Replying to a separate question, Minister of State for Commerce and Industry Anupriya Patel said that in September, India introduced a document at the WTO containing ‘Polluter Pays’ principle for fisheries subsidies negotiations.

“It proposes a moratorium on subsidies by distant water fishing nations for fishing and fishing related activities beyond their Exclusive Economic Zone (EEZ) and also seeks reduction commitments on distant water fishing capacity by these nations,” she said.

In these negotiations, she added that India has also sought policy space to support low income, resource-poor or livelihood fishing or fishing related activities up to “our EEZ, to develop and modernize our fisheries sector and for expanding our fishing activities in the high seas”.