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, 8 September 2015

START UP / STAND UP


Dear Amitabh ,

You may like my today's blog

regards ,

hemen

0 - 98,67,55,08,08

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 KILLING   MANY    BIRDS   WITH   ONE   STONE  ?

Shri Amitabh Kant

Secretary - DIPP

Ministry of Commerce

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Dear Sir :

Just read that the task of " Start Up : Stand Up " initiative announced by Shri Narendra Modi in his Independence Day speech , has been entrusted to DIPP

The question that you must be debating in your mind could be :

 How can we ensure that millions of new Start Ups are born and nurtured ?

During your talk at Jai Hind College ( Mumbai ) on 05 Sept 2015 , you held out one approach , viz :

No need for making any application to any Government Agency for grant of any permission / approval , to set up a Start Up

Apparently , you are trying to distinguish Start Ups as a new ,

 " Category of Businesses "

A category  quite distinct from MSME

Such " Out of Box " thinking has many advantages

It will enable us to treat Start Ups as " Business Class " governed by totally different set of rules / regulations / laws

One revolutionary way to treat them separately , should be :


No Income Tax of any kind for the first 10 years of operation as a Start Up !

 Conditions :

*  A Start Up must register on Income Tax Dept web site , as a " Start Up "

*  Must file each year,  START UP ZERO TAX RETURN, quoting Start Up No


If implemented , this one " Innovation " will set in motion , the following :

>    Billions of Rupees will flow into setting up of Start Ups

>    Black Money will flow into the main stream of national economy

>    All business transactions ( receipts / payments ) will become official

>    Millions of new bank accounts will get opened / active

>    Collection of GST will sky-rocket

>    Millions of new jobs will get created by these tax-free Start Ups

>    Thousands of tiny factories / workshops will crop up everywhere

>    Share of Manufacturing in GDP will cross 25 %

>    Capital Goods Industry ( Mother of all industries ) will go double-digit

>    Exports will rise and current adverse Trade Balance will decline

>    3 million youths, graduating each year ,will set up Start Ups from homes

>    Decreased agitation re " Quotas / Reservations "

>    Many unforeseen advantages


Of course , eminent economists ( and sundry naysayers ) will say :

Unworkable / Impractical / Horrible / Disastrous / Dangerous , idea !


I would be happy , if anyone has a better idea that will create 10 million Self Employed , every year


On other hand , an Online Survey among millions of ordinary citizens will settle whether this idea will work or not ( most popular Opinion Poll ever )


If conducted thru a Mobile App , 200 million Smart phone owners will respond to such a survey in 10 days !


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hemen  parekh

08  Sept  2015

    


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