Encouraging entrepreneurship in the country, Finance Minister Arun Jaitley on Saturday said the government would come up with startup friendly tax measures in the forthcoming Union Budget.
Kick-starting Prime Minister Narendra Modi’s ‘Start-Up India’ campaign at Vigyan Bhavan at the national capital, Jaitley said the movement will make the government available to entrepreneurs at arm’s length.
He also said the government and the Reserve Bank of India will over the few months add to the banks’ ability to lend more.
Credit growth is critical to boost India`s sluggish economic growth but has remained subdued, with banks struggling with crippling bad debts and insufficient capital.
“The Reserve Bank (of India) and the government, acting in tandem, are going to add to bankers` ability to lend with vigour and in greater amounts,” Jaitley said.