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
* 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