Finance Minister Arun Jaitley today said the government is committed to taking additional measures to further strengthen venture capital funds and the angel investor ecosystem in the country. Presenting the Union Budget 2018-19 here, the minister said VC funds and angel investors need an innovative and special development, and a regulatory regime for growth.

“We have taken a number of policy decisions, including launch of the Startup India programme, building a robust alternative investment regime in the country and rolling out a taxation regime designed for the special nature of VC funds and angel investors,” he said. He further said the government will “take additional measures to strengthen the environment for their growth and successful operation of the alternative investment fund in India”.

He also noted that use of fintech in financial services will help the growth of micro, small and medium enterprises (MSMEs). “A group in the Ministry of Finance is examining the policy and the institutional development measures needed for creating the right environment in the fintech companies to grow in India,” he said.