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Government released Rs 122 crore to over 1,700 agri-startups in last 5 years: MoS Agri

Economic Times

Economic Times · 8m ago

Government released Rs 122 crore to over 1,700 agri-startups in last 5 years: MoS Agri

The Indian government has allocated Rs 122.50 crore over the past five years to support more than 1,700 agri-startups through the Innovation and AgriEntrepreneurship Development program. The program, initiated in 2018-19 under the Rashtriya Krishi Vikas Yojana, aims to foster innovation and entrepreneurship in the agriculture sector by providing financial and technical assistance to startups. The funds were disbursed through Knowledge Partners and Agribusiness Incubators, facilitating the training and incubation of startups. The program offers financial aid of up to Rs 25 lakh at the seed stage to help entrepreneurs launch and scale their agriculture-related products and services.

Related News

From IT to ice cream to concrete, Indian startups doing it all

Economic Times

Economic Times · 4m ago

From IT to ice cream to concrete, Indian startups doing it all

India has 1,61,150 DPIIT-recognized startups, generating over 17.69 lakh jobs, mainly in IT, healthcare, and F&B. The government, via SIDBI's Fund of Funds for Startups, has disbursed Rs 18,633 crore to Alternative Investment Funds over five years. Karnataka, Maharashtra, and Delhi are major beneficiaries. Maharashtra leads in government-guaranteed loans under the Credit Guarantee Scheme for Startups, securing Rs 125 crore in the last two years, ahead of Haryana and Tamil Nadu.

PSU banks write off loans over Rs 5.82 lakh cr in last 5 years: MoS Finance

Economic Times

Economic Times · 16d ago

PSU banks write off loans over Rs 5.82 lakh cr in last 5 years: MoS Finance

Public sector banks in India have written off approximately Rs 5.82 lakh crore in bad loans over the past five years, according to a statement made in Parliament. In the last fiscal year, the write-off was Rs 91,260 crore, a decrease from the previous year's Rs 1.15 lakh crore. Despite write-offs, banks have recuperated around Rs 1.65 lakh crore, or about 28% of the total write-off amount. Recovery efforts continue through various legal mechanisms.

NABARD launches agriculture-focused fund with a corpus of Rs 750 Cr

YourStory

YourStory · 1y ago

NABARD launches agriculture-focused fund with a corpus of Rs 750 Cr

NABARD has launched an agri fund called 'Agri-SURE' with an initial corpus of Rs 750 crore to support agricultural startups. The fund aims to invest up to Rs 25 crore in around 85 startups by the end of its tenure. It will provide support through investments in sector-specific funds, debt Alternative Investment Funds (AIFs), and direct equity support. The fund also plans to promote IT-based solutions and machinery rental services for farmers. In addition, NABARD has launched the Agri-SURE Greenathon 2024, a hackathon to address key problems in agritech.

Government plans to launch Rs 750 cr fund to promote startups and rural enterprises

Economic Times

Economic Times · 1y ago

Government plans to launch Rs 750 cr fund to promote startups and rural enterprises

The Indian government is launching the 'Agri Fund for Startups and Rural Enterprises' (AgriSURE), a Rs 750 crore Category-II alternative investment fund (AIF), to support agripreneurs and promote innovation and sustainability in the agricultural sector. The fund will provide both equity and debt support to high-risk, high-impact activities in the agriculture value chain. The announcement was made at a pre-launch stakeholder meet attended by key stakeholders, including financial institutions, investors, AIF managers, and agri-startups. The initiative aims to enhance financing for the agricultural sector and drive growth through technological innovations.

Elon Musk hits out at Britain after reported summit snub

Economic Times

Economic Times · 11m ago

Elon Musk hits out at Britain after reported summit snub

Elon Musk has criticized the UK government after reports emerged that he had not been invited to the country's investment summit. He claimed that the government was releasing convicted paedophiles while punishing people for social media posts. The controversy stems from Musk's previous posts on his X platform about the anti-immigration riots in Britain last month. Over 1,700 prisoners were released early in an effort to tackle prison overcrowding, but those convicted of sex offences were excluded. The UK government and others had previously condemned Musk for his comments on the riots.

Blackbuck posts Rs 144 Cr revenue in Q1 FY26, profit grows 17%

Entrackr

Entrackr · 23d ago

Blackbuck posts Rs 144 Cr revenue in Q1 FY26, profit grows 17%

Blackbuck has released its financial report for the first quarter of the ongoing financial year ending March 2026. The Bengaluru-based company reported a 57% year-on-year growth in scale in Q1 FY26 and posted a profit of Rs 34 crore in the quarter. Blackbuck's revenue from operations grew to Rs 144 crore in Q1 FY26 from Rs 92 crore in Q1 FY25, its financial statements sourced from the National Stock Exchange show. On a quarter-on-quarter basis, Blackbuck’s operating revenue increased 18% to Rs 144 crore in Q1 FY26 from Rs 122 crore in Q4 FY25. Revenue from its truck operator services was the primary source of revenue, accounting for 98% of total operating revenue. The company also made Rs 16 crore from interest income which took its overall revenue to Rs 160 crore in Q1 FY26, compared to Rs 98 crore in Q1 FY25. Looking at the expenses, the employee benefit cost accounted for 32% of the overall expenditure which fell 5% year-on-year to Rs 37 crore in Q1 FY26 from Rs 39 crore in Q1 FY25. Deprecation and other operating expenses were key overheads that drove total expenditure to Rs 114 crore in Q1 FY26, compared to Rs 92 crore in the same quarter last year. Blackbuck’s net profit increased 17% to Rs 34 crore in Q1 FY26, as compared to Rs 29 crore in Q1 FY25. Blackbuck debuted on the stock exchange at Rs 208.90 and is now trading at Rs 481.85 (at 15:26 PM), bringing its total market capitalization to Rs 8,670 crore ($1 billion).

Startups in India to grow tenfold in next 4-5 years: Union MoS Rajeev Chandrasekhar

Money Control

Money Control · 2y ago

Startups in India to grow tenfold in next 4-5 years: Union MoS Rajeev Chandrasekhar

According to Union Minister Rajeev Chandrasekhar, startups in India are expected to grow tenfold in the next four to five years. The government aims to create a supportive ecosystem for startups, including access to capital, skilled talent, and regulatory reforms. The focus will be on sectors such as agritech, healthtech, edtech, and fintech, which have witnessed significant growth and innovation in recent years.

Satcom Should Complement Terrestrial Networks: MoS Pemmasani

Inc42 · 9m ago

Satcom Should Complement Terrestrial Networks: MoS Pemmasani

MoS Pemmasani emphasized the importance of using satellite communication (satcom) to address the issues of last-mile connectivity and the digital divide in India. The statement coincided with Reliance Jio providing a legal opinion on the satcom allocation consultation paper to TRAI. TRAI had released the paper last month to seek input on spectrum pricing and allocation for satcom companies.

Stashfin grants ESOPs of up to Rs 5 L to employees

YourStory

YourStory · 7m ago

Stashfin grants ESOPs of up to Rs 5 L to employees

Stashfin, a financial services platform, has granted ESOPs to its employees from a Rs 600 crore pool. Employees with five years of service receive Rs 5 lakh worth of ESOPs, while those with three years receive Rs 3 lakh. This initiative aims to reward and retain talent. ESOPs can unlock through events like IPOs or acquisitions. Founded in 2016, Stashfin has raised over Rs 6000 crore from investors like Tencent. The move aligns with a trend among Indian startups.

Govt does not foresee revenue shortfall, aims to achieve deficit target: MoS Finance

Economic Times

Economic Times · 1m ago

Govt does not foresee revenue shortfall, aims to achieve deficit target: MoS Finance

The Central Government does not anticipate any revenue shortfall and aims to meet the fiscal deficit target of 4.4% of GDP, amounting to Rs 15.69 lakh crore for 2025-26, according to Minister of State for Finance Pankaj Chaudhary. The government will support state finances through various grants and schemes, with total resources transferred to states estimated at Rs 25.01 lakh crore. Public sector banks are close to fully staffed, with ongoing recruitment efforts.

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