Home / News / India /  Delhi cabinet approves startup policy, to provide financial help to entrepreneurs

With the aim to support entrepreneurs of the national capital, Delhi Chief Minister Arvind Kejriwal announced on Thursday that the state cabinet has approved a start-up policy. 

Under this, the youth will be provided with financial and procedural help in setting up companies. A 20-member task force has also been formed for the purpose. 

"The government will provide financial help to start-ups through a collateral-free loan, financial parts of rent and employee salaries. It will form a panel of agencies and experts to provide free help to new start-ups in trademark registration and fulfilling other formalities," said Kejriwal

He informed that the 20-member task force, having a government officer, academics and business and trade representatives, will decide on registration applications from start-ups. 

Further, he also said the "Business Blaster" programme, currently being run in Delhi government schools, will be extended to college students so they could work on their business ideas with seed money from the government.

Kejriwal expressed hope that the policy will lead to a boom in the start-up sector in Delhi.

Electricity subsidy

In addition to this, the Delhi CM said that come 1 October, the government will provide a subsidy on electricity to consumers who opt for the scheme.

The Delhi consumers at present get "zero" power bills up to 200 units of electricity and a subsidy of 800 on consuming 201 to 400 units of power per month.

“Now cheap electricity will be optional in Delhi. That is, if a power consumer wants electricity subsidy, then he will get free or subsidised electricity from now," said Kejriwal. 

"But if someone considers himself capable, then he can tell the Delhi government that he does not want electricity subsidy and he can use normal rate electricity. The work of asking people about this will start soon. Power subsidy will be given to those who ask for subsidised power from 1 October," he added. 

The Kejriwal-led AAP government had allocated 3,340 crore for the power sector for 2022-23 financial year for its Special Electricity Subsidy Scheme.



Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout