Nirmala Sitharaman announces major initiatives for startups and AI development
1 month, 3 weeks ago

Nirmala Sitharaman announces major initiatives for startups and AI development

Deccan Chronicle  

Visakhapatnam: The finance minister announced three major initiatives in the sector of start-ups, IT and AI technology. She announced that Rs 10,000 crore has been allocated to support start-ups, financial support for 10,000 fellowships at institutions like IITs and IISc and the establishment of a centre of excellence in AI for education with a Rs 500 crore outlay. Nirmala Sitharaman also announced that the government has extended the tax exemption period to five years for start-ups that incorporated before April 1, 2030. Commenting on these developments, Professor P. Mallikarjuna, Dean of Trans-Disciplinary Research at Andhra University, told Deccan Chronicle that though the Rs 10,000 crore allocation to support start-ups looks promising, it needs additional strengthening, particularly in deep tech and infrastructure. He said the introduction of a deep tech fund of funds is another highlight, which he believes will catalyse growth in emerging sectors like semiconductors, artificial intelligence and other next-generation technologies.

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History of this topic

Deep tech gets a shot in the arm, new IT policy and AI centre on the cards
2 weeks, 4 days ago

Deep tech gets a shot in the arm, new IT policy and AI centre on the cards

The Hindu  

The Karnataka government has announced that it will earmark a corpus fund of ₹100 crore for deep tech development in the State. Beyond Bengaluru Under the programme, the government also intends to develop start-up ecosystems in Mysuru, Mangaluru, Hubballi-Dharwad and Kalaburagi and set up incubators, accelerators, centres of excellence and Global Technology Centres. In recent years, the government has been …

Startups get major monetary boost in Union Budget 2025
1 month, 3 weeks ago

Startups get major monetary boost in Union Budget 2025

Deccan Chronicle  

Hyderabad: The expansion of the Fund of Funds for Start-ups, announced in the Union Budget on Saturday, is expected to boost innovation, support job creation, and strengthen the startup ecosystem. Speaking to Deccan Chronicle, Sundeep Kumar Makthala, chairman and founder of TConsult, said the additional contribution from the government is a huge boost for start-ups. The Budget has also proposed …

Funds allocated for integration of AI in various fields
1 month, 3 weeks ago

Funds allocated for integration of AI in various fields

Deccan Chronicle  

New Delhi: Union finance Minister Nirmala Sitharaman on Saturday unveiled new and emerging technologies in its eighteenth Cabinet’s plans for funding the integration of artificial intelligence or AI in various fields. A new fund of funds, with expanded scope and a fresh contribution of additional Rs 10,000 crore is also on anvil,” Sitharaman said, while presenting her Budget in Parliament. …

Union Budget 2025: FM Sitharaman announces ₹500 crore AI centre of excellence in education
1 month, 3 weeks ago

Union Budget 2025: FM Sitharaman announces ₹500 crore AI centre of excellence in education

Live Mint  

Finance Minister Nirmala Sitharaman on Saturday announced the setting up of a new centre of excellence in artificial intelligence for education, with an outlay of ₹500 crore, in her Union Budget speech 2025-2026. During her budget speech, Sitharaman said, “I had announced three centres of excellence in artificial intelligence for agriculture, health and sustainable cities in 2023. In addition to …

Budget 2025: India allocates Rs 500 crore for AI Centres in Union Budget: Nirmala Sitharaman
1 month, 3 weeks ago

Budget 2025: India allocates Rs 500 crore for AI Centres in Union Budget: Nirmala Sitharaman

India TV News  

Nirmala Sitharaman, the Finance Minister of India has announced to allocate Rs 500 crore for establishing Artificial Intelligence centres across the country as a part of the Union Budget 2025. Rs 500 Crore allocated for AI centres During her budget speech in Parliament, Sitharaman announced the establishment of five National Excellence Centres for skill development training. Additionally, the government will …

Ashwini Vaishnaw praises DeepSeek, compares it to Centre's plan for local AI model
1 month, 3 weeks ago

Ashwini Vaishnaw praises DeepSeek, compares it to Centre's plan for local AI model

India Today  

Union IT Minister Ashwini Vaishnaw has praised Chinese startup DeepSeek for shaking up the sector with its low-cost AI assistant, likening its frugal approach to the Centre's efforts to build a localised AI model. DeepSeek has triggered a dramatic rethink on artificial intelligence spending around the world, claiming it took just two months and cost under $6 million to build …

DeepSeek effect: India should build cheaper AI models
1 month, 3 weeks ago

DeepSeek effect: India should build cheaper AI models

New Indian Express  

This shows that countries, especially India, need not depend on advanced hardware and that this R1 model drives home the importance of innovation. The fact that they created this platform with under $6 million investments has shaken the tech CEOs globally highlighting that game changing innovations don’t necessarily need billion-dollar investments, he added. Narendra Bhandari, General Partner, Seafund, a deeptech …

Budget 2024: Nirmala Sitharaman announces Rs 1,000 crore fund to boost space economy
8 months ago

Budget 2024: Nirmala Sitharaman announces Rs 1,000 crore fund to boost space economy

India Today  

Finance Minister Nirmala Sitharaman on Tuesday unveiled an ambitious plan to expand India's space economy fivefold over the next decade, marking a significant leap in the country's space aspirations. In a bold move to propel India's space sector forward, Sitharaman announced the establishment of a Rs 1000 crore venture capital fund dedicated to fostering growth and innovation in space technology. …

Union Budget and navigating the AI path
1 year, 1 month ago

Union Budget and navigating the AI path

Live Mint  

In the Union Budget for fiscal year 2023-24, finance minister Nirmala Sitharaman introduced the government's artificial intelligence plans, announcing three AI centres of excellence in top educational institutes. This initiative, aimed at realizing the 'Make AI in India' and 'Make AI Work for India' vision, was expected to see partnerships with industry leaders for interdisciplinary research and developing advanced applications …

Budget 2024: What startup entrepreneurs expect from FM Sitharaman's interim Budget
1 year, 3 months ago

Budget 2024: What startup entrepreneurs expect from FM Sitharaman's interim Budget

Live Mint  

Budget 2024: India has emerged as the third largest ecosystem for startups globally with over 116,679 recognized ventures across the country. {{^adFree}} {{/adFree}} India has emerged as the third largest ecosystem for startups globally with more than 1,16,679 DPIIT-recognized ventures across the country, according to data available on the Startup India portal. “This will be the first budget after the …

Satish Reddy | The tech-driven, growth-centric Budget offers a futuristic vision
2 years, 1 month ago

Satish Reddy | The tech-driven, growth-centric Budget offers a futuristic vision

Deccan Chronicle  

The technology-driven Rs 45 trillion spending Budget 2023-24 includes a futuristic “Amrit Kaal” for women, youth, members of the marginalised communities, productivity improvements, energy transition, climate action, investment finance, and major public sector investments in infrastructure led by the Prime Minister’s Gati Shakti. CII has established Intellectual Property Rights facilitation centres in different parts of the country to help SMEs …

No funding winter, funding always waiting to see more innovative startups: Nirmala Sitharaman to Network18
2 years, 1 month ago

No funding winter, funding always waiting to see more innovative startups: Nirmala Sitharaman to Network18

Firstpost  

Finance Minister Nirmala Sitharaman said, ‘The major push for startups happened in 2016 when the honourable Prime Minister announced a policy. And subsequently year after year giving concessions’ New Delhi: Union Finance Minister Nirmala Sitharaman on Friday said that funds are waiting to see more innovative startups from India and assured that there is no scarcity of funding. In an …

Union Budget 2023 AI Nirmala Sitharaman Artificial Intelligence Make India Work
2 years, 1 month ago

Union Budget 2023 AI Nirmala Sitharaman Artificial Intelligence Make India Work

ABP News  

Artificial Intelligence is slowly taking over the world, and it appears that India is wholeheartedly looking to tap into the sector, with plans to set up "centres of excellence" to develop AI technology. Sitharaman announced that in order to help realise the vision of "Make AI In India and Make AI work for India," three centres of excellence for artificial …

Budget 2023 | Government extends support measures for start-ups
2 years, 1 month ago

Budget 2023 | Government extends support measures for start-ups

The Hindu  

Asserting the importance of entrepreneurship for the economic development of the country, Finance Minister Nirmala Sitharaman on Wednesday proposed to extend the period of incorporation for income tax benefits to eligible start-ups by one more year till March 31, 2024. India is now the third-largest ecosystem for start-ups globally and ranks second in innovation and quality among middle-income countries,” Ms. …

Budget 2023: From ease of investing, tax rationalisation to simplified regulations for startups, will Budget have it all
2 years, 1 month ago

Budget 2023: From ease of investing, tax rationalisation to simplified regulations for startups, will Budget have it all

Firstpost  

Will we pave the way to creating a robust ecosystem and realise the dream of ‘Digital India’? Ahead of the fateful day, here are the hopes, expectations, and recommendations: PE, VC investments in India As our nation’s startup ecosystem has quietly grown into the third-largest in the world, only behind the US and China, there is an increasing demand across …

Budget 2019 | For startups, the angel is in the details
5 years, 8 months ago

Budget 2019 | For startups, the angel is in the details

Live Mint  

Saket Modi faced a hard choice: Pitch for lucrative government contracts, or pass on the opportunity. “If the budget stipulated that every department has to use 2-3% of its allocation to send work to startups registered with the Department of Industrial Policy and Promotion, it could be game-changing,” said Modi, whose company is backed by Cisco chairman emeritus John Chambers …

Budget 2019-20: Nirmala Sitharaman expected to enhance start-up fund; here's what to expect
5 years, 8 months ago

Budget 2019-20: Nirmala Sitharaman expected to enhance start-up fund; here's what to expect

India TV News  

The first budget of Modi 2.0 government will be presented today by Finance Minister Nirmala Sitharaman. Finance Minister Nirmala Sitharaman is expected to make favourable announcements for the enhancement of the fund to Rs 20,000 crore, some highly-placed sources said. The Start-up India programme had created the 'Fund of Funds for Startups ' with a corpus of Rs 10,000 crore …

Nasscom unveils mentor programme for AI startups
6 years, 6 months ago

Nasscom unveils mentor programme for AI startups

Live Mint  

New Delhi: The National Association of Software and Services Companies unveiled the second phase of the 10,000 start-ups initiative that will focus on mentoring deep technology ventures in areas such as artificial intelligence, machine learning and blockchain. Under the Accelerate 10x programme, 100 start-ups will be mentored every year for a period of six months and will be supported on …

Using AIF regulations to start up India
8 years, 2 months ago

Using AIF regulations to start up India

Live Mint  

On 16 January 2016 Prime Minister Narendra Modi launched “Startup India”, a scheme targeted at building a strong ecosystem to nurture innovation and start-ups in the country. The second was to give tax incentives by removing income tax on profits for the first three years and exempting personal property sold to invest in a start-up from capital gains tax. Six …

Budget 2017: Startups may get additional tax benefits, says Nirmala Sitharaman
8 years, 2 months ago

Budget 2017: Startups may get additional tax benefits, says Nirmala Sitharaman

Firstpost  

Tax related will have to come only through the budget, the Minister said, adding that suggestions with regard to exempting startups from MAT have also been forwarded. New Delhi: Commerce and Industry Minister Nirmala Sitharaman on Monday indicated that startups may get additional tax benefits in the forthcoming budget, to be unveiled on 1 February. Asked about raising the tax …

Govt sets up mechanism to support start-ups
9 years, 3 months ago

Govt sets up mechanism to support start-ups

The Hindu  

A mechanism known as SETU to support all aspects of start-up businesses and other self- employment activities has been set up by the government, Lok Sabha was informed today. Union Minister for Skill Development Rajiv Pratap Rudy, during the ongoing Winter Session of the parliament said the National Policy for Skill Development and Entrepreneurs envisaged fostering entrepreneurship and grassroots innovation …

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