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
----------------------------
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 !
-------------------------------------------------------------------------------------
hemen
parekh
08
Sept 2015
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