What does this mean for small businessmen like you?
Here’s what Narendra Modi promised small businesses before elections. Easy loan of up to Rs 50 lakh without any surety. Accidental insurance of Rs 10 lakh if you are GST registered. Credit card facilities if you are a trader. Pension scheme if you’re a small shopkeeper. Establish National Traders’ Welfare Board for easy and fast communication between Govt & traders. New incubation zones and incubators to boost startups. Much simpler process to run or start a business. Invest Rs 20,000 crore in supporting startups & get 50,000 start-ups established in India by 2024, Improve export sector and boost brand India. Bring India’s ranking in World Bank’s ease of doing business to top 50
(….he also promised to bring back the respect Indian businessmen deserve!) Now, let’s look at the works he has done in the past.
Here’s what PM Modi did in the last 5 years for the business community. Removed 1,500 unnecessary laws to simplify lives and businesses of traders. Brought easy credit facility for traders. Largely promoted entrepreneurship Ended state check-posts which resulted in the doubling of registered traders. Loan facility under Mudra scheme to 1 lakh entrepreneurs. Brought India’s ranking in World Bank’s ease of doing business to 77.
What do you think about the promises made by our PM Modi? Will it happen? Please comment below