Apropos of the report “PM makes big start to Startup India” (FE, January 17), prime minister Narendra Modi’s Start-up India action-plan to promote a culture of entrepreneurship has been lauded not only by entrepreneurs but even by president Pranab Mukherjee, who has reportedly said that India has awaken belatedly in the matter and he too was responsible for the delay as he was part of government for long. The Start-up India plan will encourage and help the youth who have an idea and the zeal to implement see it to fruition and to become a job-creator rather than a job-seeker. India holds third position in the world for start-up numbers. Statistics show that 88% of the entrepreneurs behind the nearly 4,200 start-ups present today are aged 40 years or below—and their businesses have already created thousands of jobs! The target of 11,500 start-ups by 2020, creating 2.5 lakh jobs, needs to be met to address the problem of unemployment of both the educated youth and the common man. Pitifully, Congress vice-president Rahul Gandhi was an exception, who said in Mumbai a day earlier, that Modi’s start-up scheme was for big industrialists like the Ambanis and the Birlas and ridiculously linked it to “intolerance” the next day. It is pitiable to see the prime ministerial job aspirant of the Congress attacking Modi and ridiculing ambitious schemes launched by the government. Gandhi’s obstructionist politics has blocked parliamentary clearance of many important reform bills, including the crucial Goods and Services Tax Bill. The general perception is that blocking Modi government’s reform initiatives is more important for the Congress party than progress and growth of the country.
No growth without labour
Apropos of the edit “Poor Insights”, it is rather appalling that a paper of your stature would refuse to see the ills brought about wealth and income inequality. It is a very vague argument to say that the money ploughed in by the capitalists has achieved wealth creation. All economic value is created by labour which transforms resources and raw materials into products, contributing the vale-add. I would like to see an industrialist throw money at ore and make it into steel. Automation is indeed a concern but most tech development is happening at the instance of industry to eliminate labour. Historically accumulated wealth is used to appropriate more from the common pool of resources—remember, the industrialist who bids for spectrum, and fairly “wins” the auction is paying for that with cash that he has made by the dint of the worker’s labour—and grow even richer. This kind of appropriation has to stop.