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With reference to the National Startup Advisory Council, consider the following statements:
  1. It was constituted by the Union Ministry of Commerce and Industry.
  2. Prime minister of India is the chairman of this council.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    2 Only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
With reference to the National Startup Advisory Council, consider the ...
The Union Minister of Commerce and Industry will chair the sixth meeting of the National Startup Advisory Council (NSAC) in New Delhi today, March 11.
  • It was constituted by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Union Ministry of Commerce and Industry.
  • Objective: To advise the Government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country to drive sustainable economic growth and generate large-scale employment opportunities.
  • Composition of the council
    • Chairman: Minister for Commerce & Industry.
    • Ex-officio Members: Nominees of the concerned Ministries/Departments/Organisations not below the rank of Joint Secretary.
    • Besides the ex-officio members, the council has non-official members, representing various stakeholders such as founders of successful startups, and veterans who have grown and scaled companies in India.
  • NSAC is playing an important role in identifying areas of intervention for the expansion of the startup ecosystem and ideating and nurturing national programs under the Startup India initiative. 
Hence only statement 1 is correct.
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