The DPIIT, under the commerce and industry ministry, which has prepared the document, has also suggested setting up of 500 new incubators and accelerators by 2024; 100 innovation zones in urban local bodies; deployment of entire corpus of Rs 10,000 crore Fund of Funds; and expanding CSR funding to incubators.

“However, it is noteworthy that foreign investors pumped in money on the day of election results as the mandate became clear,” said Vidya Bala, Head – Mutual Funds Research at FundsIndia.

As per the system being worked out by the Revenue Department, the taxpayer will get full refund from his jurisdictional officer once the claim is sanctioned, while at the back-end the Centre and states will apportion the amount to be paid to each other.Currently, once a taxpayer files refund claim with the jurisdictional tax authority, say the central tax officer, then he would clear 50 percent of the claims, and the remaining is cleared by the state tax officers after further scrutiny.