Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Saturday, 16 January 2016

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

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

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   





       

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