"I understand that starting a startup is as much important as somebody wants to exit from it. The government is working to make the exit also (easy)," Sitharaman said at the 'Startup India' conference here.

The Insolvency and Bankruptcy Code 2015, which seeks to provide an easy exit option for insolvent and sick companies, has been referred to a 30-member joint committee of the Members of Parliament for further scrutiny.

She also said that after the announcement by the Prime Minister about 'Startup India', the ministry was engaged with different departments to create an enabling ecosystem for such ventures in the country.

Further, the minister said that the number of youths looking for government jobs is fast coming down and those providing some employment are actually growing.

Speaking at the event, Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant said that 'Startup India' initiative will help in turning youth from "job seekers to job creators".

World Bank country director Onno Ruhl said India needs to grow and innovate and create jobs as one million people enter labour force every month. The government is working to make it easy for budding entrepreneurs to start a business or exit from it, giving boost to the Indian startup ecosystem, Union Minister Nirmala Sitharaman said today.

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