The Delhi Cabinet has approved a startup policy which seeks to provide the youth with financial and procedural help in setting up companies and formed a 20-member task force for the purpose, Chief Minister Arvind Kejriwal said on Thursday. He also said the ‘Business Blaster’ programme, currently being run in Delhi government schools, will be extended to college students so they could work on their business ideas with seed money from the government.

Also read: Delhi government announces free bus passes for construction workers

"The government will provide financial help to start-ups through collateral-free loan, financial parts of rent and employee salaries. It will form a panel of agencies and experts to provide free help to new start-ups in trademark registration and fulfilling other formalities," he said.

The 20-member task force, having a government officer, academics and business and trade representatives, will decide on registration applications from startups, Kejriwal said and expressed hope that the policy will lead to a boom in the startup sector in Delhi.