Explanation:

Correct answer is (b). In the two statements given above, the statement I discusses the cause or reason of an event and the statement II states the effect of it.
Applying the elimination technique, let’s check the relevance of each of the options one by one.
Possibility 1.
While no one is in the know of what the Startup India programme which was announced last year with much fanfare to promote entrepreneurship, achieved, the Startup India programme so far has had the limited visibility. The construction made above, though, seems grammatically correct but doesn’t make any sense contextually. This eliminates options A and D.
Possibility 2.
While no one is in the know of what the Startup India programme which was announced last year with much fanfare to promote entrepreneurship, achieved, the Startup India programme so far has had the limited visibility. Once again, the case has been same here. This formation too looks correct at first glance, but is contextually absurd, if interpreted. Option C also gets eliminated.
Possibility 3.
On account of the limited visibility of the Startup India programme, which was announced last year with much fanfare to promote entrepreneurship, no one is in the know of what it achieved. Clearly, the above synthesis is both grammatically and contextually correct and keeps the flow intact.
Option B hence is the correct answer.