What is Compostable Plastic for which Govt has approved Startup Loan of Rs 1.15 Crore? - Explained

What is Compostable Plastic?: Union Government has approved a startup loan of Rs 1.15 Crore for development of Compostable Plastic which can replace the Single Use Plastics (SUP). The loan has been approved for Satara Based start-up TGP Bioplastics Private Limited, which will be manufacturing it. CURRENT AFFAIRS