Budget 2018: Govt to strengthen VC funds, angel investor ecosystem, says Arun Jaitley

Arun Jaitley said govt is committed to taking additional measures to further strengthen venture capital funds and angel investor ecosystem in the country

PTI February 01, 2018 12:59:39 IST
Budget 2018: Govt to strengthen VC funds, angel investor ecosystem, says Arun Jaitley

New Delhi: Finance Minister Arun Jaitley on Thursday said the government is committed to taking additional measures to further strengthen venture capital funds and angel investor ecosystem in the country.

Budget 2018 Govt to strengthen VC funds angel investor ecosystem says Arun Jaitley

Union Finance Minister Arun Jaitley in Parliament on Thursday. PTI

Presenting the Union Budget 2018-19, the minister said VC funds and angel investors need an innovative and special development, and a regulatory regime for growth.

"We have taken a number of policy decisions, including launching of Startup India programme, building a very robust alternative investment regime in the country and rolling out a taxation regime designed for the special nature of VC funds and angel investors," he said.

He further said the government will "take additional measures to strengthen the environment for their growth and successful operation of the alternative investment fund in India".

He also noted that use of fintech in financial services will help the growth of micro, small and medium enterprises (MSMEs).

"A group in ministry of finance is examining the policy and the institutional development measures needed for creating the right environment in the fintech companies to grow in India," he said.

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