'Rs 1,000 cr for promotion of start-ups is a highly positive move'

Raju Vanapala , Founder and CEO, LearnSocial.com, says: "The announcement of Rs 1,000 crore for promotion of start-ups is a highly positive move. We feel that the new government has presented a progressive budget, which will help in creating an investor-friendly environment and attract more foreign and domestic investment in the IT sector. As we all know, a boom in the IT Industry with advanced technology leads to direct growth of the economy. Hence, the government has laid a special focus on this space. The new mechanism known as Self Employment and Talent Utilisation (SETU) will be a techno-financial incubation and facilitation programme to support all aspects of start-up business and other self-employment activities particularly in technology-driven areas. This too will open more avenues in the sector and be a veritable shot in the arm."