Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Tuesday 29 September 2015

TREADING THE BEATEN PATH ?


TREADING   THE   BEATEN   PATH   ?

You may also call it , "  Path of the Calf " , a beautiful old poem  by ,
Sam Walter Foss ( 1858 - 1911 )

The crooked path that a lonely calf cut through the dense jungle , 100 years ago
Men followed / horses followed / carts followed / vehicles followed
Till it became a Inter State highway !
But still crooked !
Sure , it does take you where you want to go - except it takes a long time !

I was reminded of this while reading a news report which said :

*  MUDRA bank has disbursed Rs 24,000 cr to 27 lakh jobless youth to start
    micro businesses . On an average , less than Rs 1 lakh per person

*  In 2015-16 , it plans to distribute loans to 1.25 crore jobless

*  Assuming same ave amount , that would mean Rs 1.25 crore*lakh

Now recall following :

*  Some 4.3 crore youth are registered with 900 + Employment Exchanges
    of India . Perhaps twice as many have not even bothered to register ,
    since it will take 300 years to clear the present backlog , at the rate at
    which these exchanges are able to find jobs ! So , a total of 13 crore
    jobless ?

*  Some 40 crore Indians are below the poverty line . Even if only ONE in
    FOUR , wants to start a micro business , that means 10 Crore persons in
    need of MUDRA loan ?

*  So , even if Rs 10 Cr*lakh could be mobilized ,  it may take 8 / 10 years
    to give loans to these 10 / 13 crore jobless !

Now it was only yesterday that , in a meeting with America's top CEOs in New York , Prime Minister Narendra promised to fast-track the decision-making process, acknowledging that ,

" the world is not going to wait for us ". 

I have a feeling that crores of jobless Indian youth are also unwilling to wait
for 10 years !


Instead , here is what NDA government need to do :

*  Enact " Start Up Act - 2015 " suggested earlier

*  Abolish Personal Income Tax for Start Ups registering on web site of
   Income Tax department ( must file ZERO TAX return for 10 years )

*  No questions asked re source for all investments made in Start Ups ,as
   long as this cash gets deposited in the bank account of that Start Up

This will ensure that , within ONE YEAR , 30 crore bank accounts opened under Jan Dhan Yojana , will each get credited with Rs 1 lakh !

Rs 30 Crore*Lakh of  BLACK MONEY , will suddenly become  WHITE  and PRODUCTIVE  !

Let us stop trudging along the " Path of the Calf " !

-------------------------------------------------------------------------------------

hemen  parekh
26  Sept  2015
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