PM Modi Approves Rs 10,000 Cr Startup India Fund

• The government approved Startup India Fund of Funds 2.0 with a corpus of Rs 10,000 crore to boost innovation and startups
• Under the PM RAHAT scheme, road accident victims will receive cashless medical treatment
• The target for Lakhpati Didis has been doubled to six crore by March 2029

Prime Minister Narendra Modi has approved the Startup India Fund of Funds 2.0 which now has an expanded budget of Rs 10,000 crore to show the government dedication to developing the nation through its innovation-based economy.

The renewed fund is designed to accelerate growth in deep technology, early-stage ventures, advanced manufacturing, and next-generation solutions, providing catalytic capital to high-potential enterprises across sectors.

The prime minister strengthened entrepreneurship India by approving the Startup India Fund, a ₹10000 crore fund aimed at boosting Indian startups, enhancing government funding access, expanding venture capital India, and accelerating the startup ecosystem.

The original Fund of Funds for Startups, launched in 2016 with a similar corpus of Rs 10,000 crores was structured to expand domestic capital access for emerging businesses.

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The scheme invests through SEBI-registered Alternative Investment Funds (AIFs), which act as daughter funds instead of making direct investments into startups. The AIFs use their funds to make equity and equity-linked investments into Indian ventures that have potential for growth.

The Small Industries Development Bank of India (SIDBI) administers the programme, selecting eligible daughter funds and monitoring capital deployment. AIFs which participate in the programme must rise startup funding that equals twice their committed FFS contribution, which allows them to create ecosystem multiplier effects.

The Prime Minister approved essential social development initiatives and programs for rural development. The PM RAHAT program provides road accident victims with cashless medical treatment that reaches Rs 1.5 lakh for their emergency medical needs.

The government has announced that Lakhpati Didis target, which currently stands at three crores, will reach six crores by March 2029, after they already achieved their first milestone. The government increased the Agriculture Infrastructure Fund allocation from Rs 1 lakh crore to Rs 2 lakh crore to develop agricultural supply chains and post-harvest infrastructure throughout the country.