Baby Steps
won’t do !
Following appeared in today’s news papers :
·
Times
of India
“
Maharashtra govt amends key Contract
Labour Law , trade unions upset “
Earlier
the law applied to units with 20 or more workmen. After the amendment in
Maharashtra , it will apply to units with 50 or more employees
·
Business
Line
“NSDC
to channel donation from private sector angels to the bottom-of-pyramid “
Manish
Kumar , MD and CEO , NSDC told Business Line ,
“
Not everyone who gets skilled will get a job. So, we are trying to encourage
entrepreneurship in the candidate
But,
in doing so, access to funds is extremely difficult for those at the bottom of
the pyramid
The
NSDC is now working to set up a ‘ Nirvana Fund
’ that will channel donations from the private sector – basically angel
investments – to fund ventures of selected candidates trained under the Pradhan
Mantri Kaushal Vikas Yojana-2 , but have failed to get a job
The idea behind calling it ‘ Nirvana Fund ‘ is that those who have achieved
everything they want in life can put their money in the fund and NOT EXPECT ANY RETURNS “
Unfortunately
, our problem of unemployment is GIANT
We
are adding to our job-seeking population , some 12 million persons
every year
So,
we added some 36 million in last 3years
During
this period , NSDC claims to have trained some 9.2 million youth
and helped 3.6 million find jobs ! Barely 10 % !
Good
thing is that NSDC ( - and I suppose , NDA government as well ) has realized
that there is just NO WAY, we can create
that many jobs , either in the Public Sector or in the Private Sector
Obviously
, Self Employment / Entrepreneurship is
the ONLY ANSWER
But
each Self Employed will need an initial investment
of at least Rs 1 Lakh, ( ask any
Pan-Beedi Shop owner ! )
For
those 12 million persons being added to
our working-age population each year , that would require Nirvana Fund to get “ donations “ of Rs 12,000 crores !
Year
after year !
Now
it is possible that a few ( “ who have achieved everything they want in
life “ ) like Narayan Murthy , Azim
Premji , Shiv Nadar or
Anil Agarwal , may come forward to “ donate “ to Nirvana Fund , Rs
100 crore worth of their hard-earned WHITE
money , “ NOT EXPECTING ANY RETURNS “
That won’t
take us very far !
But
, if Shri Kumar is willing to accept BLACK
MONEY, that can get him Rs 12,000
crore worth of “ donations “ ( and without any expectation for
returns ) , within 6 months !
All that NDA
government has to do , is to announce :
·
A limited period AMNESTY SCHEME ,
under which BLACK MONEY can be “ loaned without earning any interest “ to Nirvana Fund ( Minimum amount of Rs 1 crore )
·
·
No questions to be asked of the “ Loan-givers”
, as to the source of the funds
·
No investigations / no scrutiny / no litigation / no penalty / total
immunity
·
Donations can be in CASH (
obviously the new Rs 2000 notes ! ) or by cheque
·
·
Loaner will provide full details about himself ( PAN / Aadhar / Bank A/C
etc )
·
“Loan Certificates “ to be issued
to “ Loan-givers “
·
“ Loan Certificates “ can be
willed to one’s heir or even gifted to anyone else , without attracting “ Gift Tax “ , either by the giver or by the
recipient
·
Original loan amount will be returned after 10 years
·
If received as a “ Gift “ , on
maturity , loan amount will not attract
Personal Income Tax
Remember , only a few months back ,
small country of Indonesia managed to “ unearth “ BLACK
MONEY “ worth $ 300 Billion ( Rs 21
lakh*crore ) , under an Amnesty Scheme , by levying just 4 % tax ( and no penalty ) !
There is no reason , given the size of
our BLACK MONEY economy ( @ 12 % of our
GDP ) , why we cannot bring out a similar amount and deploy in our MAIN STREAM economy !
If we NEED to grow our GDP at 10 % per annum , baby steps won’t do !
What 400
million POOR people making up our “ Bottom
of the Pyramid “ need – and NOW -
is a LEAP from BLACK to WHITE !
And that won’t happen through current demonetization !
Baby steps just won’t do . We need to
take GIANT STRIDES
13 Feb 2017
www.hemenparekh.in
/ blogs
No comments:
Post a Comment