Thursday, 18 May 2017

Easier said than done !



Economic Times ( 15 May ) carries following news report :




“  Startup Inc’s Sop Story to be part of Book of Jobs “



Cos eyeing benefits under Startup India will have to declare job creation estimates 


Companies eyeing benefits under the Startup India programme will soon have to declare upfront how many jobs they will create in order to qualify as the government moves to make employment generation the guiding principle for all its major programmes.


“We will soon notify the new definition for startups, which goes beyond innovation,“ a senior government official said.


Innovation is currently the main criterion for startups to qualify for benefits such as tax holidays and fast-track patent filing under Startup India.


To qualify as a startup under the new definition, an entity would have to declare its job creation target and meet certain financial standards besides having a certain level of innovation in its product or service.



When PM Narendra Modi launched the Startup India initiative in January 2016, one of its main thrusts was to create employment opportunities for the youth, but it was not included as a mandatory requirement.



The initiative has not yet taken off in a big way , as only 10 startups have been approved for availing of the tax benefit by an inter-ministerial board.


DIPP has recognised 798 applications as startups but not given them the tax benefit.



Companies incorporated after March 31, 2016, could avail of a three-year tax holiday in the first seven years of their existence under the Startup India initiative.



Startups are expected to create 250,000 jobs in India by 2020, up from 80,000 now, according to a Nasscom report. 




QUESTION IS :


Writing down on a piece of paper that “ you will create so many jobs ( by xyz date ? ) “ , is not difficult but do DIPP have the manpower – and a mechanism – to count the “ Actual No of Jobs “ created ?



ANSWER :


No




Can technology help “ count “ the actual number of persons employed by such a start up and transmit that figure to DIPP , daily ? – automatically ?



Yes , it can !




If DIPP were to implement my  following suggestion ( earlier sent as email ) 

:

“  From  BAD  to  MAD  “  ( 01 June 2016 )







18  May  2017


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