Finance Minister Nirmala Sitharaman on Thursday proposed tax benefits for start-ups and pension funds.

The government has taken measures to promote start-ups in the country. As many as 1.17 lakh start-ups are recognised by the government so far.

Under the Startup India Action Plan unveiled on January 16, 2016, the government provides tax and non-fiscal incentives to start-ups.

The minister also said the Indian economy has been put on a strong and sustainable growth path.

The Finance Ministry, in its latest monthly economic review, said the Indian economy will become the third largest in the world in the next three years, with a GDP of $5 trillion from the current $3.7 trillion.

It also said India can aspire to become a $7 trillion economy in the next six to seven years (by 2030).