News Letter
Open Letter to Shri Krishnamurthy Subramanian, new CEA
Sir, As a new CEA and a strong advocate for financial sector reform, I dare to bring the following:
1. 90000cr blocked in NPA from sick MSME if revived by any method, will add 0.5% to 1% to India's GDP on sustainable basis as 1cr jobs, which are at stake along with contribution by unit to govt tax and this 1cr employee will(with money multiplier effect) will put in India in 7.9% to 8.5% bracket.
2. As mentioned by Shri Uday Kotak, India needs to have 9% GDP growth for the next 20 years to eliminate poverty why can we not hold the thrones of bull?
3. A lot of value creation is possible by reviving these units by proper handholding in all three stages of life cycle i.e., Crisis, Stabilization & Growth.
4. As a committee member on Narayan Murthy committee for AIF, can we think to the lower limit of say 10lacs for special AIF for the revival of sick MSME with Udyog Aadhar number?
Happy Christmas
Regards,
N.P. Desai
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