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INDIAN AFFAIRS
START UP INDIA SCHEMES TO FINALLY TAKE OFF
January 13, 2016
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1.The government can finally start deploying funds from the Self-Employment and Talent Utilisation (SETU) scheme and the Atal Innovation Mission (AIM) announced in the Union Budget for 2015-16 to promote startups and scientific research, after over ten months of spadework.

2.An overarching supervisory body with about ten members is being formed to oversee the allocation of funds under the schemes to line ministries. Finance Minister Arun Jaitley had allocated Rs 1,000 crore to the SETU scheme and Rs 150 crore for AIM.

3.Half of the funds under SETU would be earmarked for strengthening existing incubators in the country, backed by different departments, so that the support mechanism for budding entrepreneurs is more robust.