Saturday, May 28, 2005
Gaurav laments that libertarianism is upper middle class drawing room entity and feels that "Getting into Business" is made tough by the State.Not so,. If you ask your neighbourhood Chaiwala or Bhajiwala how many permissions he has to take to start business, answer would be NIL.They have Single Window Clearance called 'Hafta'.All the agencies whose permission is required has field staff which collects charges and gives oral permission there and then to carry on the business.Ofcourse Blessings of local Political Worker euphemism for Dada(Bhailog) is essential. Ofcourse I.Tax Dept. is out of the loop hence none of them ever pay income tax.Major problem for them is not permission from State but to raise the Capital. Banks don't lend them, and they depend on Chit Funds,Bhissi and such finance at high interest rate which cannot be repaid as their margins are low.Availability of Capital at low interest will make 'Getting into Business' lot easier.