Startup/SME Poll on Demonetisation: Inputs Sought

Below is a link to the LocalCircles Startup and SME survey in which many of you participated.

The survey indicates that while 86% entrepreneurs support demonetisation in long term, short term challenges are impacting business for Startups and SMEs. Below are some additional links on the survey in print and digital media

Hindu Business Line -
Businessworld -

If you have ideas on how the impact of demonetisation on startup receivables, transaction flow, fund raising can be mitigated, do share your inputs. more  

Yes, Rangaswamy, I agree. Any such new awakening will have teething problem. We have to face. Modi is too honest a man and he has no axe to grind. Let us have full faith in him and make him work on such schemes and support him to the hilt. I am 93, a Rly man and I wrote a book on Modi and Rlys suppoted by 100 pictures of Modi linked to Rlys. Write to me and take copy of Modi and the 100 pictures book free if you cannot pay me any money. It costs Rs 800 with 534 pages with 600 pic all in colour, with the first pages on Modi and Modi's way of working. It is not a joke, If you are interested, pl come home and take the book free by appointment to my cell: 9444444865 I am from Mylapore near Ry station, aged 93 years.Venkat 93 more  
Everyone haven't kept the limits to their Tijori's, Everyone should keep limits to their money which will be not in use and people should use excess money ( above the Tijori's limits) in the market. Do not block the money. Let everyone be rich yaar. So no one will beg on india's streets. more  
86% support demonetisation itself is a great support to the govt apart from this it indicates the confidence among themselves & govt - that some thing improvement will be noticed & also sme 's & others will boldly venture because though opposition is creating so many problem govt is going ahead with it's reforms . entreprenurs analyse market , study the product's demand & carefully do your business since govt is also carefully & practically analysing the situation & trying to give he best to the people more  
The demonetization is the best thing that has happened. But we have many people in the country try to sabotage .I wish GOI will stick it out. Of course we have difficulties today, but in the long run it will be good for the country Rangaswamy more  
First point is that it appears that RBI had not been acting independent of the GOI as no logical explanation can be for 86.4% of Currency being in denomination of Rs 500 and Rs 1000 . RBI must do the correction by printing more currency in Rs 50 and Rs 100 denomination I/o Rs 2000 and Rs 500. so that lower denomination currency constitutes at least 33% of the total currency. Second point is that TOTAL CURRENCY Requirement should be recalculated. It should be possible to manage all legal transactions with in 40 to 50% or so of the existing total currency at the time of announcement of demonetisation .As digital remittance, debit cards, etc. have increased and Android based apps shall also render use of currency avoidable. Third point is that BLACK MONEY should be discouraged by (a) Sharp reduction in rate of tax and GST should be on product category wise 12% only on goods for Basic Human Needs such as water, grains, pulses, bakery products, energy products , Home or shelter, 15% on Value added/ Manufactured goods and commercial construction, and a maximum of 18% on Luxury Goods only. Fourth Point is POLITICAL REFORMS: ALL POLITICAL PARTIES should become CASHLESS (1) surrender their Bank Balance to exchequer and (2) should avail State Funding and (3) Corporate Funding should only be by cheque , qualifying as part of CSR Fifth Point is Judicial Reforms in terms of (1) Increase in no of Judges with financial qualification (2) Parliament should finalise Legislation along lines as proposed by Law Commission to make Economic Crimes as very high costs and faster dispensing of justice should be ensured and (3) All Tax reliefs and special benefits just to favour a select band of Industry should be beyond the powers of politicians.. Fifth Point is that INR should be made fully convertible with in next two years and ease of doing business must be an essential political agenda at state level. more  
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