Dear
Amitabh ,
Merry Xmas !
Here
is my today's blog
hemen
/ (M) 0 - 98,67,55,08,08
PS
:
I
hope you can find some time for us to meet during Make In India Week - Mumbai (
13 - 15 Feb 2016 )
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Ditch Historical Baggage !
In
Aug 2015, SIDBI launched a Rs 2000 Cr " Fund of Funds ", to support
Venture Capital Funds
By
now, proposals from 24 VC Funds for an aggregate amount of Rs 930 Cr have been
cleared
A
report in Economic Times ( 23 Dec 2015 ) quotes Shri Mohandas Pai :
"
If Rs 10,000 Cr is given as seed capital, it can enable at least 30,000-35,000
Start Ups with the multiplier effect in the next 5 years, with a total impact
of Rs 60,000-70,000 Cr on the economy "
Now
, what can Rs 20,000 Cr manage to do ?
Simple
but compelling arithmetic !
If
Mr Pai was our Finance Minister , he would :
*
Sell of 53 loss-making PSUs ( or at least close them down )
*
Save Rs 20,000 Cr of losses these PSUs have been making , year after year
*
Invest this Rs 20,000 Cr in " Fund of Funds "
*
Help create 60,000-70,000 new Start Ups
*
Add 700,000 new jobs ( @ 10 jobs per Start Up ? )
*
Boost economy by Rs 140,000 Cr ( Capital Output Ratio of 1 : 7 )
But
, if we are really keen to help create millions of Start Ups to raise India's
GDP from Rs 2 Trillion to Rs 10 Trillion in the next 10 years, then Rs 20,000
Cr just won't suffice !
We
would need Rs 20 Lakh*Crores ( 100 times more )
Not
possible for Union Government to raise that kind of money - either by borrowing
or by raising taxes
But
not at all difficult for 3 crore tax payers , if we
*
Abolish Personal Income Tax
*
Introduce Black Money Investment SPVs
Read
following blogs ( sent to all Ministers / Chief Ministers ) at www.hemenparekh.in,
*
A New Economic Order / Start Up Act - 2015
*
Create Wealth to Create Jobs
*
Agenda for Reforms
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hemen
parekh
25
Dec 2015
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