MeitY Gears Up To Present INR 5K Cr Software Product Development Fund To FM
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India, May 29 -- Almost a year after the Software Product Development Fund (SPDF) was approved under the National Policy on Software Products, the Ministry of Information Technology (MeitY) is working on taking the action plan to the finance ministry.
An Economic Times report citing sources said that MeitY officials are expected to approach the finance ministry by next week with a detailed proposal for the SPDF. Officials also plan to have Cabinet-noted ready by early-July.
The report added that MeitY plans to deploy the INR 5K Cr corpus into at least 50 daughter funds that would comprise of SEBI-registered Category 1 and Category 2 Alternative Investment Funds, by the last quarter of the current financial year. These AIFs will then inv...
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