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Union Government approved auction of 2300 MHz spectrum and Rs 10000 crore fund of Funds for Startups

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Union Government approved the Mega auction of 2300 MHz Spectrum under the Initiative of Digital India Programme

About Digital India:Bill

To make sure that Government services are made available to citizens electronically

  • By improving online infrastructure
  • By increasing Internet connectivity
  • By making the country digitally empowered in the field of technology

Launched on 2nd July 2015                                                                          

Aim: To connect rural areas with high-speed internet networks

Three core components

  • The creation of digital infrastructure
  • Delivering services digitally
  • Digital literacy

About 2300 MHz spectrum exists for auction across 7 bands which will give a boost for Digital India

The Auction will enable Telecom Operator to buy spectrum equivalence with International holding values and solution for spectrum shortage

Union Government accorded special package for

  1. Employment Generation
  2. Promotion of exports in Textile and Apparel Sector

Spectrum Auction

  • To sell the licences to transmit signals over specific bands of the electromagnetic spectrum and to assign limited spectrum resources
  • Spectrum Auctions are market-based spectrum management, privatization of public airwaves and governments to allocate limited resources

Union Government approved Rs 10000 crore fund of FUNDS FOR STARTUPS

In order to extend support for Startups Entrepreneurship, the Union government gave nod to initiate the fund of Funds for Startups at Small Industries Development Bank of India for contribution to various Alternative Investment Funds

Eligibility: Startups should be registered with Securities and Exchange Board of India

Initial Corpus: Rs. 10,000 crore

Corpus was set up over the 14th and 15th Finance Commission Cycles and it is subjected to growth of the initiative and availability of funds

During 2015-16, Rs 500 was provided to the corpus and Rs. 600 Crore was accorded in the year 2016-17

Monitored and Reviewed by: Department of Industrial Policy and Promotion

Managed by: Small Industries Development Bank of India

Features of the Fund:

  • The Fund will be utilized to create employment for 18 Lakh people on full operation
  • An initial corpus of Rs. 10,000 Crore will be the core for investing Rs. 60,000 Crore of Equity investment and twice as much Debt Investment

Start Up India

  • Focused at promoting bank financing for start-up ventures to boost entrepreneurship and encourage start ups with jobs creation
  • Ministry               –      Ministry of Commerce and Industry
  • Launched in        –      16 January 2016

Department of Industrial Policy & Promotion

  • Established: 1995
  • Ministry: Commerce and Industry

SIDBI

  • Provide refinance facilities and short term lending to industries
  • Headquarter: Lucknow