Start-up Culture in India – Big Push with Govt Funded Company & GDP Growth

•If Govt creates a new team/company who can identify good talent and companies and invest in them in any sphere with experienced teachers, professors, scientists, DRDO, Defence members, ISRO, physics PHD holders, IT mentors (most projects will be from IT), intelligence, police, banking, finance, rural ministries, NIC/C-DAC team to identify best tech in computers. The structure of this organisation should be like a private company with no interference from govt only as intermediator and chip in only on issues. The funds allocated in budgets can be used to form the company with CEO like architecture of Rs. 500 crores annually till the funding enables start up growth and impact on GDP. The company will help overcome dependency on international VC funds & boost GDP
•An idea can be ranging from manufacturing, bio-technology, solar, new inventions, research in unknown areas to space. The role of the company setup will be to hire proper resources and get work done at any cost from anywhere in the world after background checks by concerned agencies. Each idea must be demonstrated by the concept conceiver irrespective of age either college students, school students or working professionals or experienced. The concept is to drive more revenue by innovative ideas and more patents being filed in the country.
•Govt can provide equipment's with space in SEZ, servers to host data – windows, Linux, through cloud or Virtual servers for at least 3 years for the concept to be successfully. Students from colleges will require support from senior staff and friendly and motivated team to get it going. The students can bring in their own laptops or govt can provide desktops and laptops for work as long as their part of the company.
•Mobile development will be major region of focus for all start up so energetic team which can process and analyse best idea among them and support them. Some will bring in revenue some will be for social causes. Govt should balance both to sufficiently keep the company floating.
•Students in India from engineering colleges, MCA, arts graduates, IIT, IIM, IT employees who are first generation or want to try business funding must be directly from government and the loan payment should be done to banks. Govt and banks will take stake in the company once the company grows both the govt and banks will be benefited with the stake and can make money instead of new developers depending on foreign VC’s who are very authoritative and dictate terms to us.
•Failure rate of start up are high hence the organizations in which the govt invested if possible they must be given proper channels to move to some other company or pulled into necessary govt jobs if the ideas did not take off.

RBI – Functioning and Monetary Policy

•RBI similar to FED, USA must consider Employment generated, GDP growth and other parameters when announcing monetary policy. Plainly sticking to inflation parameter alone wont help. Targeting only one parameter to announce monetary policy is outdated. Inflation – GDP – Employment are the 3 cycles based on points system must be considered.
•Employment data in India is not much clear. Govt based on PAN card information on salary credited through Banks must determine how many employed in proper sectors and unorganised difficult to determine. At least with organised sectors like Govt, Banks, IT, etc,. The employment generated can be calculated. Focussing based on that data to target monetary policy will help. If reduced employment or growth on employment less than 3% then monetary policy can be relaxed. Govt must help with providing employment data.
•GDP data on quarterly basis is not targeted. If GDP threshold is considered and below which the monetary policy will be eased should be maintained.
•RBI to target based on inflation data available or have monetary policy meeting post the quarterly data availability. RBI always pointing to next cycle is not appropriate
•Veto Power with RBI must irrespective of panel size or Equal panel size for RBI and Govt and veto with Governor to maintain status quo
•RBI does not do audit of IT facilities of banks and does not audit data. It does audits which are outdated. Nowadays IT systems have various methods to conceal data.