Modi Govt's Startup Support: Kharge Claims Negligible Funding

New Delhi, Jan 16 (PTI) Congress president Mallikarjun Kharge on Thursday claimed that Indian startups have got negligible support from the Narendra Modi government, alleging it has only built a "startup of fakery" in the last nine years.

He also said whatever growth has taken place in the startup industry, credit should go to the entrepreneurial spirit and ingenuity of the startups and not the Union government.

"In 9 years, the Modi Government has only built a 'Startup' of Fakery! Fact is '? Indian Startups have got NEGLIGIBLE support from the Modi Government," he said in a post on X.

"Reality Bites - Only 1.58 percent of recognized Startups have been approved for Startup India Seed Fund set by GOI. More than 97 percent haven't got any Tax benefits.

"The BJP promised Rs 20,000 Crore Startup Seed Fund but Modi Government has only approved funding of just Rs 454.04 crore," he said.

The Congress chief said recognized startup has being approved of just Rs 32.65 lakh as average funding.

In 2024 alone, more than 5000 startups were forced to shut, he claimed.

Kharge said at least 1,56,000 startup jobs have been lost since 2020.

"Hollow Sloganeering + Loud Propaganda = #9YearsOfStartupIndia by Modi ji," he said.