Chandigarh, Sep 12 (IANS) In a major push to Haryana’s rapidly growing startup ecosystem, Chief Minister Nayab Singh Saini on Saturday reviewed progress towards operationalising the proposed Haryana Startup Fund of Funds with a corpus of Rs 2,000 crore.

The fund is envisaged as a robust financial mechanism to support startups at different stages of growth, attract private capital and give further impetus to innovation and entrepreneurship in the state.

Chairing a high-level review meeting at the Secretariat here, the Chief Minister said in view of Haryana’s consistent progress in innovation and entrepreneurship, it is essential to put in place a strong financial mechanism to provide financial support to startups at various stages of their growth.

He said timely access to capital is a key factor in the success of startups and directed that the process for the establishment and operationalisation of the Haryana Startup Fund of Funds be taken forward in a time-bound manner.

CM Saini said the fund would play an important role in promoting investment and innovation, attracting private capital and supporting high-potential startups emerging from Haryana.

Meanwhile, in a major push to ease traffic congestion and improve connectivity across the state, CM Saini has approved the development of ring roads and National Highways outside cities and towns with a population of more than one lakh.

The state will also take forward major bypass projects in Hisar, Kurukshetra, Narnaul, Jind and Sohna-Palwal, with an estimated investment of Rs 9,700 crore.

The Chief Minister was chairing a meeting at the Secretariat on the adoption of a financial model for state contribution under the master plan aimed at reducing congestion in urban areas along National Highways.

The Chief Minister directed that a policy for developing outer ring roads and National Highways under the master plan be formulated in accordance with the Central government’s policy framework so that road projects aimed at reducing traffic pressure in cities and towns can be implemented effectively.

–IANS

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