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 " !

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hemen  parekh

26  Sept  2015

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