On My Canvas- Juno winner releases "Sanata: Stillness"

DOG>GOD

Its a fairy tale

Blessed with a real tail.

White cotton ball

Delicate sweet and small

Four little legs

Jumping on bed

Pink cherry nose

Smells mutton gosht

Day and night

Running behind

Few may call him Dog

For me he is my baby

I believe him as God

His unconditional love

Instant picks me up.

Walking on a road side

Brings Courage, Hope and smile.

He says bow wow
I say wow so cute.

ROAD TO MY HEART IS PAVED BY PAWS..... 

HOW 2014 BUDGET CAN BE A TURNING POINT FOR SMEs?

We all must have passed a phase where we have grown up seeing our parents taking care of day-to-day chores of the household. Budgeting each month - buying grocery, giving pocket money, paying several bills, putting little money in savings, etc… All this require some sort of planning and wisdom.

When I was a child I remember how my parents had fixed a budget for me to buy things within a given amount.

During my schooling, after every year of passing I had always bought a new bag, pencil box, water bottle, lunch box, school uniform, shoes, etc… I was trained in a way where I was given a limited amount to fulfil my needs. Before going for shopping the first task I had to do was penning down my list of items from 1 to 10 or 20 …30 …100.  I was a demanding child… Ye bhi chaiye… who bhi chaiye… sab chaiye…!!!

The next job was convincing my dad about the things that I require the most which has to have valid reasons.

We then use to go shopping. At first we enjoy by doing window shopping and finally after analysing the stuff I loaded myself with bags.

I feel I was like a SME (small medium enterprise) where I was enterprising in my own way expecting more and more from my parents. My dad was playing a role like government who was looking after my needs and was trying to give best of the things whereas my mom played a balancing role being a mediator between me and my dad, making me understand what should I buy and what should not.

On the arrival of new government, everyone had high expectations just like a child has expectations from his father that he/she will be getting new toys, clothes, etc…

For corporate India, four focus areas were clearly visible in the Union Budget 2014-15.

Infra push: The thrust on infrastructure development was unmistakable. Overall spending on infrastructure is budgeted to rise 24 per cent over last fiscal to Rs 2.1 trillion. Projects such as creation of 100 smart cities, and greater allocation to roads, irrigation and water projects will boost infrastructure investments. To strengthen the public-private partnership (PPP) framework, a new entity ‘3P India’ will be set up. Innovative funding mechanisms like infra bonds for banks and Infrastructure Investment Trusts will channelize funds for infrastructure.

Creating conducive investment climate: Measures such as clarity on retrospective taxation, liberalisation of FDI in insurance and defence and extension of tax holiday for power sector are aimed at improving the investment climate and kick-starting the cape cycle.

Promoting SME/MSME growth: To boost the small and medium enterprises, the Budget proposes setting up of a Rs100 billion venture capital fund to encourage entrepreneurship and a district level idea incubation programme, lowering of limit for investment allowance to Rs 250 million and putting in place a legal framework for easy exit for SMEs.

Boosting purchasing power and consumption: The relief offered to individual taxpayers through a hike in standard tax deduction, increase in investment limit under section 80C, and increased subvention on home loan interest is clearly intended to stoke consumption and, therefore, economic growth. At the same time, the changes in customs and excise duties will also make some consumer products such as soaps, low-end footwear and colour televisions, and personal computers cheaper, providing a fillip to demand for these items.

And who doesn’t love surprises. After shopping I was surprised with my favourite ice cream or a piece of cake. Therefore new budget 2014-15 brought a surprise along with the boost for handloom and textiles sectors which are among the biggest employers after agriculture and have a large concentration of micro and small enterprises. Arun Jaitey's announcement of Rs 50 crore for Pashmina Promotion Programme to uplift the Pashmina shawls industry of Kashmir and Rs 50 crore towards setting up of a Trade Facilitation Centre to promote the handlooms industry of Varanasi is a welcome measure.

As a general boost to the textile sector across the country, Budget 2014 has proposed setting up six mega textile clusters at Varanasi, Bareilly, Lucknow, Surat, Kutch, Bhagalpur, Mysore and Tamil Nadu with a total sum allocation of Rs. 200 crore.

Overall, not a dream budget for SMEs and start-ups but definitely forward looking.

So it was important for me to have faith in my dad in believe that whatever he will buy for me would be the best. Hence whatever government will plan would be the best.

It seems therefore to be a common belief that different funding solutions need to be planned and implemented for enterprises which cannot invest massive assets as collateral, but that have a good business proposal and innovative ideas in order to win the global competitiveness in the digital era.

SMEs are increasingly requiring additional financing sources apart from lending. This need is now being addressed through the new 2014-2020 Multiannual Financial Framework Programming Period.

Large expectations would result satisfied for SMEs and entrepreneurs such as easier access to finance firstly, but also more prominent role for self-employment and business development as important sources of growth and job creation, and therefore a more competitive industry and higher employment rates.

As the existing entrepreneurs (small businesses in particular), also future entrepreneurs (including young people) would benefit from new generation finance access instruments for SMEs and start-ups both for consolidation and growth of existing businesses as well as for initial assistance in setting up their own businesses in the start-up phase.

PUBLISHED ARTICLE: http://smbconnect.in/blog/how-2014-budget/