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Union Budget 2018: Govt committed to strengthening VC funds, angel investors, says FM

Finance Minister Arun Jaitley said that VC funds and angel investors need an innovative and special development, and a regulatory regime for growth.

india Updated: Feb 01, 2018 13:01 IST
Press Trust of India
Press Trust of India
Press Trust of India
Union Budget 2018,Budget 2018 Arun jaitley,Budget 2018 Latest News
Finance Minister Arun Jaitley said that policy decisions such as launching Startup India programme, building alternative investment regime and rolling out a taxation regime designed for VC funds and angel investors were taken to bolster growth.(PTI)

Finance minister Arun Jaitley today said the government is committed to taking additional measures to further strengthen venture capital funds and angel investor ecosystem in the country.

Presenting the Union Budget 2018-19 here, 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.

Read more: Budget Live Updates

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.

First Published: Feb 01, 2018 13:00 IST