Wednesday, December 12, 2018
" Take Care of Penny and Pound will take care by itself"
Most of the educated people must have heard above proverb.
No doubt "Ease of Doing Business" rank of India has improved but we can achieve more.
All efforts of govt for developing Roads, Aviation, Housing, Electricity etc are laudable but the missing link in all above is MSME.
11cr people work in MSME and everybody says it is a backbone of economy Right? All efforts of govt are towards creating new MSME.
But my question is who has the responsibility to take care of Sick MSME? It is a very big task and highly specialised. Corporate urn around specialist may not be able to do.
Only people who have breathed in the MSME sector are more suitable and it is not high paying jobs.
So How can it be done?
It can be done by fresh equity investment by Social fintech innovation by an organisation like us who have developed the skill for this in last 36 months by research and procedures.
With this, I appeal to all please give your support to this cause and save 1cr jobs.
Please contribute your might by ideas, suggestions, talent and any others
Sunday, December 9, 2018
Sri Uday Kotak's press meet
I agree fully with Shri Uday Kotak that India needs a 9% GDP growth rate for the next 20 years to eliminate poverty.
All intelligent politicians and bureaucrats are applying their brain for a sustainable solution.
My feeling is that if all sick MSME units are revived by whatever method, will yield govt various taxes and if we take money multiplier effect of 1cr jobs(which are at stake) which are saved itself, may add 0.5% to1% to GDP on a sustainable basis.
Pvt sector, Social entrepreneurs, CSR funds, various foundations can be used to fund but it requires different management style which people who have worked in MSME can do this as they understand dilemmas of entrepreneurs of MSME and this effort requires to "Take care of penny and pound will take care of itself" kind of philosophy.
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?
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