Budget 2024-25 will boost startups and the startup ecosystem through bold and innovative proposals like ending "Angel Tax" and introducing paid Internship, says Union Minister Dr. Jitendra Singh about Budget 2024-25.  

As the Minister Incharge of Science and Space related Ministries and someone who has very passionately promoted the growth of startUps in India over the last few years, Dr. Jitendra Singh pointed out that the raise in Mudra loan limit to Rs. 20 lakh, Rs. 1 lakh crore for Anusandhan National Research Foundation and planning five times increase in next ten years while earmarking Rs. 1,000 crore venture fund for space startups all supplement each other to together further strengthen the India's startup ecosystem.

“In order to boost the Indian startup ecosystem, the Union Budget 2024-25 abolished Angel Tax for investors” says Union Minister Dr. Jitendra Singh expressing his happiness and satisfaction over the Union Budget 2024-25 presented in the Parliament.

Dr. Jitendra Singh underscored that the nine priority areas primarily focus on boosting Startups, generating employment, skilling, MSMEs and the middle class for Modi. Govt 3.0 making this its 1st budget after taking office.

Highlighting the budget, Dr. Jitendra Singh said nearly 20 lakh youth will be skilled over a 5-year period. The Science and Technology underscored that 1,000 Industrial Training Institutes to be upgraded in hub and spoke arrangements in collaboration with state governments and Industry for skill development.

To carry forward the acquired skills and promote self-employment the Model Skill Loan Scheme to be revised to facilitate guaranteed loans up to Rs. 7.5 lakh and help nearly 25,000 students annually. Increasing the limit of Mudra loans to Rs. 20 lakh from the current Rs. 10 lakh for those who have successfully repaid previous loans under the ‘Tarun’ category marks A revolutionary step to promote entrepreneurship.

Rs. 1 lakh crore budgetary support announced for Anusandhan National Research Foundation (NRF) and set up a mechanism for spurring private sector driven research and innovation on a commercial scale.

Enhanced allocation to DSIR from Rs. 5,746.51 crore in 2023-24 to Rs. 6,323.41 2024-25 marking an increase of 10%. Dr. Singh also shared that out of Rs. 6,323.41 crores for DSIR, an amount of Rs. 6,265.80 crore has been earmarked for CSIR.