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Modi government launches IAF and SMILE to give big boost to startups

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By NewsGram Staff-Writer

Mumbai: On Tuesday, Modi government launched the India Aspiration Fund (IAF) that will give a big boost to startup initiatives across the country. The Finance Minister, Arun Jaitely, launched the IAF under the Small Industries Development Bank of India (SIDBI) that will act as a fund of the funds.

Photo Credit: http://www.livemint.com
Photo Credit: http://www.livemint.com

The government has already set aside an initial corpus of Rs 400 crore to various venture funds under it, according to a report published in Economic Times.

The IAF is supposed to have committed around Rs 60 Crore, Rs 30 Crore, and Rs 20 Crore to IvyCap Ventures, Blume Ventures, and Carpediem Capital Partners respectively.

ET report quotes Arun Jaitely as saying: “India is witnessing a startup revolution and to harness the potential of India’s innovators and entrepreneurs a vibrant financial ecosystem is essential. IAF will play a vital role in this financial ecosystem.”

As the IAF fund follows sectoral allocation of funds, it is likely to provide a big boost in the form of investment to even those sectors that are not hot today for venture funds.

Arun Jaitely also launched SMILE, the “SIDBI Make in India Loan for Small Enterprises” scheme with an allocation of around Rs 10,000 crore. The scheme aims to provide soft loans as well as term loans on relatively soft terms to Micro, Small and Medium Enterprises (MSME), according to the ET report.

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Is Supporting the TRUTH a Crime?

Is this the age of hypocrisy? Yes, it quite seems like. Hypocrisy and double-dealing are what characterize the social and intellectual nuances of present India. Nothing could be so disgusting than the fact that when you speak the truth and follow the truthful people then you are accused of being a follower of Saffron party. ‘Bhakta’, ‘Sangi’ are two terms much going around which are coined by those extra smart class of Indians

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Is it a crime in India now to admire those who really deserve?

By Salil Gewali

Just a few days back I was incisively criticized by one of such smarts – Mr. Sekular. He put forth very weak reasons to undermine my article on PM Modi as if it is outrageous to praise PM Modi’s dedication and activities. My article was intended to bring to the limelight a few of the rare achievements of the present government and how it brought about the overall development in the country and the appreciations PM Modi received from the countries abroad. Is it a crime in India now to admire those who really deserve? Here follow how I rebut that write-up by Mr. Sekular.

  • I am not a follower of any political parties. Nor am I associated with any organizations, so I do not have an allegiance to a specific political party. Nevertheless, I do support, and do not hold back to uphold the truth and do not shy away from admiring those who are genuinely truthful and putting themselves in the service of the nation. The nation belongs to me, my family, my village; and as a result, me, my family, my society, my culture, my language and my identity are inseparable from this land.   Well, even if I am a supporter of the Saffron party of PM Modi, what is the big deal about it? Does one commit a sin by supporting and encouraging persons who truly love the country and who want to do something substantial for the nation?
truth, crime
Why do Mr. Sekular and his kind hold the contrary ideas about the safety and security of this sovereign country?
  • Here my pointed question to that Mr. Sekular is, on the other hand, why does he support those parties and those “forces” whose “integrity” is very doubtful. Why do Mr. Sekular and his kind hold the contrary ideas about the safety and security of this sovereign country? Why do they discreetly, even openly, invite Bangladeshi infiltrators, and thereby put the peaceful Indians to great hardship? On the other hand, don’t they vehemently oppose CAB bill? Why so opposing views, conflicting perspectives?  Well, if trusting and espousing the “truth” and human “values”, and loving the country and its language and its culture will be equated with supporting the saffron party of India then I will never mind even if the whole world calling me as a leader of that party, lol. Why should one deviate from the “pathway of truth” lest somebody would label him as a certain thing or other?

 

  • Please watch out, if the same principle is applied, the leaders and country heads of UAE, Saudi Arabia, Afghanistan, Palestine, South Korea, Japan are fast becoming the followers of the saffron party. They all have applauded the activities of the Supreme head of the saffron party – Mr. Narendra Modi and awarded him with the states’ highest honors. What is too disquieting here is that the president of Russia – Mr. Vladimir Putin also has jumped on the bandwagon. His government has recently announced to honor Shri Narendra Modi with the country’s highest award – Order of St. Andrew the Apostle. According to Mr. Sekular, I guess, it is objectionable. Well, barring a few, all world leaders have established the personal relationship with the saffron head.  Is Mr. Sekular aware that Tulsi Gabbard, who is now running for the President of America, is a passionate follower of Narendra Modi? One wonders what Mr. Sekular and his ilk will do if the US Congress’ leaders cry at the top their lungs – “America Mata Jai” in case Ms. Tulsi wins the election in 2020? Her name itself is Indian and so off-putting, isn’t it?
truth, crime
One wonders what Mr. Sekular and his ilk will do if the US Congress’ leaders cry at the top their lungs – “America Mata Jai” in case Ms. Tulsi wins the election in 2020? Her name itself is Indian and so off-putting, isn’t it?
  • Further, I guess, Mr. Sekular must not have completely read my articles and viewpoints, and therefore he is conveniently misinterpreting it to create confusion among other readers. His intention is seemingly not very clear. Almost all my l articles, starting from 1990, frankly speaking, invariably seek to bring about the harmony, peace, and co-existence among all peoples and the welfare of the whole humanity in the world. I personally have never compromised on the misconceived ideas and principles against human values and against the country, nor have I knowingly ever set out to cause a division, hostility, acrimony, hatred, among anyone through my write-ups.  And, despite that, if anyone draws the negative meanings from my writings then I am totally helpless. Of course, people usually understand a subject which is based on their already programmed and conditioned minds. The acquired information and impressions in the past only help them form ideas and conclusion. We usually become victims of wrong propaganda and misinformation and start to believe them as being right. One has to be extra alert in this age of digital media as there are many SECULAR propagandists around.

ALSO READ: First Hindu Temple Lays Foundation Stone in Abu Dhabi

Lastly, Mr. Sekular should note that my two eyes still clearly differentiate between right and wrong, and virtue and evil. Hence, I am deeply suspicious of those intellectuals who glorify “aluminum”, not “gold”, heap praise upon the terror-manufacturing countries, not upon where they have taken birth in, hate the native culture but eulogize and adopt the culture from the far-off lands. We must caution ourselves of these hypocrites who trifle with the country, its ethos, its sanctity and thus mislead the masses with wrong narratives.

Salil Gewali is a well-known writer and author of ‘Great minds on India’. Twitter: @SGewali