Indian Prime Minister Narendra Modi is known for his speeches and the usual announcement of initiatives which become a major part of his addresses to his countrymen. 15th August 2015, on the occasion of 69th Independence day of India, he highlighted the resolve of 125 crore Indians, as ‘Team India’, to root out corruption, and to make India a developed nation by 2022 – the 75th anniversary of independence. He urged the people of India to ‘Start-up’ and ‘Stand-up’.
Addressing the nation from the ramparts of the Red Fort, the Prime Minister announced the “Start-Up India” initiative, which would encourage entrepreneurship among the youth of India. He said each of the 1.25 lakh bank branches, should encourage at least one Dalit or Adivasi entrepreneur, and at least one woman entrepreneur.
The Prime Minister said that the unity, simplicity and brotherhood of 125 crore Indians, is the strength of this nation, and caste-ism and communal-ism have no place in our society.
Key announcements made by Narendra Modi on 15th August, 2015:
1. Auctions of coal, spectrum and FM radio licenses.
2. PAHAL scheme for direct transfer of LPG subsidy, which has resulted in savings of Rs. 15,000 crore.
3. Introduction of “neem-coated urea” has helped to end diversion of subsidized urea to non-agricultural purposes.
4. Ministry of Agriculture would be renamed as the Ministry of Agriculture and Farmers’ Welfare. Government is focusing on raising farm productivity, and providing electricity and irrigation to farmers. Pradhan Mantri Krishi Sinchai Yojana had been launched with an outlay of Rs. 50,000 crore.
5. Government had resolved to connect with electricity, all the 18,500 villages which still remain without power, within the next 1000 days.
6. To make India a developed nation by 2022, with a house and access to basic services like electricity, to all.
7. To end the practice of “interviews” for recruitment even at relatively junior levels and to promote merit by recruiting only through transparent, online processes.
8. The long-standing demand from ex-serviceman for One-Rank, One-Pension, had been accepted by the Government “in-principle” and the modalities are being worked out with stakeholders.
The Prime Minister recalled some of the resolves he had made in his Independence Day address last year. The promise of toilets in all schools had been almost fulfilled, with the cooperation of States. Financial inclusion had received a big boost with the opening of 17 crore bank accounts through the Pradhan Mantri Jan Dhan Yojana.
The Prime Minister also spoke of the welfare schemes launched by the Union Government, including Atal Pension Yojana, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Jeevan Jyoti Yojana, and the schemes launched for labour welfare. He also reiterated his vision for the development of eastern India.
The newspapers are full of news about startups. Indeed these startups trigger the imagination of the young minds to the next level.
Governments (both central and state) are not behind; they are gearing up to facilitate the momentum to kick-start a startup revolution, much awaited in the country. The role of the government is to provide suitable environment for entrepreneurs to grow and do business. This article focuses on the aspect of ‘governance’ on how to develop conducive atmosphere for the next generation of entrepreneurs.
First let us make it clear, governance is different from politics. Good governance is participatory and consensus driven that involves various institutions of the government to make it work. Broadly speaking, good governance is a four-step process – Vision, Policy, Action and Feedback. This article would highlight the policies undertaken by central government and state government like Andhra Pradesh to promote entrepreneurship.
The first step is vision: A properly stated vision is guiding principle that provides direction. Mr. Modi in his address to the nation on 15th August, 2015 gave a slogan Start-Up India Stand-Up India. This slogan is an invitation to the youth to think about entrepreneurship because every entrepreneur creates more jobs. Similarly in Andhra Pradesh, CM Mr. Naidu is calling AP – a Sunrise State. He has given AP’s vision as, “there should be one entrepreneur in every family & AP should be the most innovative society in the country”. We must admit this is the most proactive vision statement made by a political leader who has a daunting task of building a new state from scratch.
Next step is policy announcement: Government of India announced Self Employment and Talent Utilization (SETU) and Atal Innovation Mission (AIM). In 2015 budget FM, earmarked 1000 crores and 150 crores respectively for these schemes with an aim to shape the entrepreneurial culture in the country that would ensure sustained economic development for the next few decades. At the state level, AP government announced the unique Innovation and Startup Policy 2014-20 (first state to announce such policy in the country). The policy targets to build the new Silicon Valley kind of corridor in the state where entrepreneurs can avail not only the best facilities but most appropriate environment to innovate creating thousands of jobs and revenue for the state.
Third step is action/schemes: After the broad policy guidelines are announced, next step is to develop the specific schemes. AP government has released schemes like ‘Integrated Risk Guarantee Scheme to support public private partnerships in creating world class Technology Business Incubators (TBI)’, where five incubators with investment of 750 crores will be established (Again the first in the country). Another scheme is to promote first time entrepreneurs under SUO MOTO category, where government is willing to support products/services with a funding commitment of upto 5 crores for each product. The selected products/services shall be used to streamline any government department or used for public good.
Fourth step is feedback: We all know that any innovative idea involves great risk. Good governance is more about listening to people and seeking feedback so that corrective timely actions can be taken.
Developing the spirit of entrepreneurship and innovation is an uphill task. Given the challenges like literacy, poverty, food and security; the real leadership is tested when the government overcomes the challenges and takes their citizens to the next level of development.
Building the India of tomorrow is our collective responsibility. We individually have to ensure that we add up to the cluster being built to be as respected as Silicon Valley, London-Cambridge-Oxford Arc or Singapore, that would make every Indian proud.
It’s a proud moment to be alive at this time of our lives where our thoughts and the vision of our leaders are n sync with the need of the hour. There is not a better time to be alive, because there is so much opportunity if you are a person with passion, if you are willing to work hard, and you have ideas-this is a great time to be alive! I am quite confident and sitting excited on the edge of my seat as I prepare for the roller coaster ride that our beloved country is about to witness with the backing of our capable leaders. Lets contribute to the next phase of innovation and subsequent development of a country ready to explode. Our heads are held high.
This article has been well researched by Rise My Venture team.