Govt planning collateral-free loans, doorstep assistance of CAs

The chief minister was speaking virtually at the IndUS Entrepreneurs (TiE) Global Summit and shared the Delhi government’s efforts in building a comprehensive start-up policy to turn the city into a global start-up destination.

The Delhi government is planning to offer collateral-free loans and doorstep assistance of chartered accountants and lawyers to entrepreneurs with a view to encourage the growth of start-ups, chief minister Arvind Kejriwal said on Wednesday.

Kejriwal reiterated that there are over 7,000 start-ups — valued at an estimated $50 billion — in Delhi, making it the city with the highest number of active start-ups in the country. (HT Archive)

The chief minister was speaking virtually at the IndUS Entrepreneurs (TiE) Global Summit and shared the Delhi government’s efforts in building a comprehensive start-up policy to turn the city into a global start-up destination.

“As part of the start-up policy, we plan to provide collateral-free loans for start-ups in priority areas. We will also enable easy access to experts who can aid start-ups with accounting, taxation, registration, legal help, digital marketing, and other such services. Further, Delhi government will align its public procurement in a manner that a fixed percentage of goods and services are procured through recognised start-ups,” he said.

The chief minister said a helpline will also be set up to answer all start-up related queries. “Individuals and start-ups will be able to use the government of Delhi’s doorstep service, by dialling 1076 and get a CA and/or lawyer to help them,” he said.

Kejriwal reiterated that there are over 7,000 start-ups — valued at an estimated $50 billion — in Delhi, making it the city with the highest number of active start-ups in the country. He said the government is taking short and long-term steps to ensure start-ups have access to the best quality human capital by imparting entrepreneurship mindset curriculum in schools and opening the Delhi skill and entrepreneurship university.