India, the world's third-largest startup ecosystem: DPIIT-recognised startups cross 2.5 lakh – Quiz (09.11.2026)

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India, the world's third-largest startup ecosystem: DPIIT-recognised startups cross 2.5 lakh – Quiz (09.11.2026) – 5 questions, subject: Current Affairs. Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.

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1.  
Marking the launch of 'Startup India', 'National Startup Day' is observed on which date?

Correct Answer: C [16 January]

Explanation:

16 January – Startup India was launched on this day in 2016; National Startup Day since 2022. 15 September is Engineers' Day.

2.  
The 'angel tax' on startups, abolished in the 2024 Union Budget, arose under which section of the Income-tax Act, 1961?

Correct Answer: B [Section 56(2)(viib)]

Explanation:

Section 56(2)(viib) taxed share premium above fair value as 'income from other sources'. 80C is for savings deductions; 115BAA gives companies a concessional rate.

3.  
Which institution manages the ₹10,000 crore 'Fund of Funds for Startups' (FFS)?

Correct Answer: D [SIDBI]

Explanation:

The Small Industries Development Bank of India (SIDBI) – it invests not directly but through SEBI-registered Alternative Investment Funds (AIFs).

4.  
'StartupTN' is the brand name of which Tamil Nadu body?

Correct Answer: D [TANSIM]

Explanation:

The Tamil Nadu Startup and Innovation Mission (TANSIM), under the MSME Department. TIDCO is the industrial development corporation; ELCOT the electronics corporation.

5.  
In DPIIT's 'States' Startup Ranking 2022', in which category was Tamil Nadu placed?

Correct Answer: A [Best Performer]

Explanation:

'Best Performer' – along with Gujarat, Karnataka, Keralam and Himachal Pradesh; results were released in January 2024.

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