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
-----------------------------------------------------------------------------------------
hemen parekh
25 Dec 2015
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------
Make
Yourself Heard
Dear Visitor :
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