Though industry experts greet it with the enthusiasm there is also a degree of caution, as they wait for the implementation of these announcements.
The 2014 budget by the NDA is a very positive and a complete digression from the pattern that we have seen in the last decade. The focus clearly has changed keeping the current times in mind and will have a far reaching positive impact on jobs at the grassroots level that will be felt across the country,” says Kishor Jagirdar, chairman and managing director, Infopace Management Pvt Ltd, a change management company.
The country was hoping that the new government’s policies will usher India towards economic growth. “The strategic focus on MSME (redefined) and building an ecosystem for innovations, incubation and a venture corpus fund of INR 10,000 crore, as well as a multi layer skill development plan, will boost the culture of bare foot innovators. This will create multiple opportunities for employment and self reliant micro economics, where growth will come from local resources. It is a very prudent approach.
Several others are also optimistic but would like to see how this is executed.
“Some steps have been taken towards growth and inclusivity. Entrepreneurship, in particular, seems to have been given importance, with funds for equity and risk capital to be made available. There have also been special initiatives for SMEs,” says Anjana Vivek, Founder-Director, VentureBean Consulting Private Limited.
Funding start ups is not like lending by a bank, it is a completely different ball game.
In addition to the lack of collateral, there is also no true validation of the markets and customers. So it is important to manage and implement these schemes and to ensure that the benefit reaches the genuine entrepreneur who needs it. It’s a great idea, to be implemented with due care,” she adds.
