Governance

Startup India is a flagship initiative of the Government of India launched by the Prime Minister Shri Narendra Modi on 16 January, 2016. The initiative is intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Department for Promotion of Industry and Internal Trade (DPIIT) acts as the nodal Department for the Startup initiative. As on June 3, 2021, 50,000 startups across have been recognized as startups by DPIIT, of which 19,896 have been recognized since April 1, 2020.

Public Sector Indian Renewable Energy Development Agency (IREDA) under Ministry of New and Renewable Energy reported an all-time high annual Profit Before Tax (PBT) of 570 crore rupees in the financial year 2020-21 that was severely affected by Covid 19 Pandemic. The PBT of the company was Rs. 241 crores during FY 2019-20. The company has posted Profit After Tax (PAT) of Rs. 346 crores as against Rs. 215 crores in the last financial year, registering a massive growth of 61%.

Ample employment opportunities for Khadi artisans have helped them fight the financial distress once again, as most parts of the country remain under lockdown during the second wave of Covid-19 pandemic. Despite a severe jolt to the manufacturing and service sectors between March and May this year, Khadi and Village Industries Commission (KVIC) has bagged purchase orders worth over Rs. 45 crore that would support the livelihood of lakhs of Khadi artisans. The purchase orders have come from the Ministry of Tribal Affairs, Indian Railways and Air India.