TEN MILLION START- UPS IN ONE YEAR ?

Thank you , Narendrabhai , for the Start Up Action Plan announced last evening

I am glad that some of my suggestions ( sent to Ministers / Secretaries ) over the past 2 years , have been incorporated in the ACTION PLAN , in respect of :

*    Self Certification

*    Simplified Registration thru Mobile App

*    Tax Exemption for Capital Gains

*    Entrepreneurship Program for 10 lakh students

*    No Corporate Income Tax for 3 years

   

 You will find my detailed suggestions covering these points in following blogs at :

 www.hemenparekh.in :

       *    A New Economic Order - Start Up Act 2015   /   12 Sept 2015

       *    From Job Seekers to Job Creators   /   15 Sept 2015

       *    Back Up Factory of the World  /   09 Sept 2015

       *     Blue Print for a Start Up Nation  /   27 Dec 2015

       *     Creating Jobs Vs Creating Self Employed ?  /   10 Dec 2015

       *     Get Out of the Way  /   01 Dec 2015

       *     Ten Million Entrepreneurs ?  /   19 Oct 2015

       *     Start Up Eco System / USA vs India  /   01 Oct 2015

       *     Treading the Beaten Path  /   25 Sept 2015

       *     Second Industrial Revolution  /   21 Sept 2015

       *     From Single Window to a Single Day ?  /   19 Sept 2015

       *     Myth of Job Creation  /   12 Sept 2015

       *    Killing Many Birds with One Stone  /   07 Sept 2015

       *    If Mohamed cannot go to Mountain  /   26 July 2015

       *    Ditch Historical Baggage  /   24 Dec 2015

       *    Create Self Employment  /   21 Feb 2015

Very likely , your initiative may see the birth of ten thousand new start-ups in 2016-17, which , together , might generate one lakh jobs

In itself, this will bring a new dynamism to India's Economy 

But that will still fall far short of 12 Million ( 120 lakh ) youth joining the work-force each year

Can all of these youth become Start Ups ?

It is entirely possible

All you need to do is to implement my following suggestion, described in ,

"  A New Economic Order / Start Up Act - 2015 " /  12 Sept 2015  " :

SUGGESTION

    *  Although all Start Ups will need to file annual Income Tax returns ( with full disclosure of income / expenses / profits / sources of funds etc ) , it will not be required to pay any Corporate Income Tax for the first 10 years of its existence

     *  A Start Up will be free to raise  funds from any source ( Individuals / Companies / PE funds / VCs / Angel Investors / Religious Trusts etc )

     *  100 % FDI will be permitted in Start Ups

     *  A Start Up can receive loans or equity and be able to accept fixed deposits . It can also give loans to individuals or other Start Ups or invest in other Start Ups by way of equity

    *  There will be no restrictions on what interest ( on loans / FDs ) that a Start Up may pay nor any restrictions on dividends it may declare

        The dividends declared by Start Ups will not attract any Income Tax

    *  As far as the persons / companies etc providing funds to Start Ups ( by way of loans or equity ) is concerned , no questions will be asked re their source of funds

   WHAT  WILL   HAPPEN , IF  IMPLEMENTED  ?

   *  Billions of rupees worth Black Money will flow into these Start Ups - money which is currently lying unutilized or locked up in unproductive assets

       

    *  Within 3 months , thousands of Venture Capital Funds will be born , exclusively for funding of Start Ups ( You know who will set up these VCs ! )

    *  With NO Income Tax to be paid , Start Ups will conduct all transactions through cheques ( receipts / payments )

    *  GST  collections will go up

    *  Domestic Savings Rate will go up

    *  Since millions of ( Black Money holding ) individuals / businesses will come forward to fund these Start Ups , lending pressure on banks will go down

    *  Who knows , Start Ups may get into the business of Assets Reconstruction and relieve banks of NPAs !

    *  With locally / domestically stashed Black Money flowing into the economy , our dependence on FDI will go down

    *  Corruption will decline drastically

Dear Shri Narendrabhai :

It is still not late to incorporate my suggestion in forthcoming Union Budget on 29 Feb 2016

This is your opportunity to ,

*   Dream BIG

*   Enable millions to dream big

*   Unleash the Entrepreneurial Genome of India's Youth

*   Make 21st Century , an Indian Century 

*   notwithstanding the opposition in Rajya Sabha

-----------------------------------------------------------------------------------------

hemen  parekh

17  Jan  2016

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Make    Yourself    Heard

Dear Visitor :

It is time for YOU to speak up - and demand that YOU are heard

By emailing this suggestion - incorporating your OWN improvements - to the following Policy Makers

(  Just multiple copy all the following Email IDs into the Recipient column of your Outlook and Copy / paste this suggestion in the Message Box ) :

    narendramodi1234@gmail.com; 38ashokroad@gmail.com;ajaitley@del5.vsnl.net.in; jayant.sinha19@sansad.nic.in;piyush.goyal@gov.in;nitin.gadkari@nic.in; spprabhu1@rediffmail.com;bandaru@sansad.nic.in;smritizirani@nic.in;nsitharaman@nic.in; ravis@sansad.nic.in;sureshprabhu@irctc.co.in;prakash.j@sansad.nic.in;secy-ipp@nic.in; amitabh.kant@nic.in; shaktikanta.das@nic.in; rsecy@nic.in; adhia1981@gmail.com; ceo-niti@nic.in; atul-chaturvedi@nic.in; uma.bharati@sansad.nic.in; d.pradhan@sansad.nic.in; rprudy.office@gmail.com; rudypr@rediffmail.com; eam@mea.gov.in; mosvks@mea.gov.in; mvnaidu@sansad.nic.in; mnaqvi@sansad.nic.in; rao.inderjit@sansad.nic.in; mljoffice@gov.in; sadananda.gowda@sansad.nic.in; ministerminority@gov.in; najmah@sansad.nic.in; minister-ca@nic.in; ramvilas.paswan@sansad.nic.in; gandhim@sansad.nic.in; akumar-alpha@sansad.nic.in; jpnadda@sansad.nic.in; hm.moca@nic.in; geete@sansad.nic.in; simratbadal@yahoo.com; ns.tomar@nic.in; rmsingh@sansad.nic.in; tc.gehlot@sansad.nic.in; dr.harshvardhan@sansad.nic.in