Startup fund gets Rs 10,000 crore

The Union Cabinet on Wednesday cleared a Rs 10,000-crore fund for startup companies and a mega spectrum auction that is likely to fetch about Rs. 5.66 lakh crore to the exchequer. Finance Minister Arun Jaitley also said the Cabinet had approved Rs 6,000-crore aid for apparel manufacturing. The government said the move will create around 1.75 lakh jobs in the industry in the next three years.

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