New Delhi : Union Minister for Micro. Small and Medium Enterprises Shri Narayan Rane in a written reply in the Rajya Sabha today said that The Government of India has announced Fund of Funds with the nomenclature Self Reliant India (SRI) Fund to infuse Rs. 50,000 crore as equity funding in those MSMEs which have the potential and viability to grow and become large units.
Under this scheme total size of fund of Rs. 50,000 Crore has a provision of Rs.10,000 Crore from Government of India and Rs.40,000 Crore leverage through Private Equity / Venture Capital funds.The guidelines of the fund have been issued. This initiative is aimed at providing growth capital to the deserving and eligible units of MSME sector.