CA Professionals and Financial Inclusion

NATIONAL CONFERENCE ON “PANEL DISCUSSION ON ROLE OF CAs

IN MAKE IN INDIA & FINANCIAL INCLUSION”

Role of CAs in Make in India

And Financial Inclusion

AJAY GARG

Team AGBians

EDPs

SKILL DEVELOPMENT

SELF EMPLOYMENT

TIMES

…AND TIMES ARE

CHANGING

AJAY GARG

Team AGBians


…And

Any EDP

Is Unlikely to be

Complete

Without

Financial Lessons!

AJAY GARG

Team AGBians


…Skill Development

To Get Translated into

Self Employment

Must be coupled with

Commercial EconomicsAJAY GARG

Team AGBians


…And

Self Employment

Is Unlikely to Succeed

Without

Handholding by CAs

AJAY GARG

Team AGBians



AJAY GARG

Team AGBians


FDI DOMIANTED GROWTH AREAS

• DEFENCE

• RAILWAYS

• MINING

• ENERGY

• AVIATION

AJAY GARG

Team AGBians


DI DOMINATED GROWTH

AREAS

SOLAR ENERGY AND

INDIATIME TO MAKE AWARE

ABOUT

Investment Per KW

• Net Metering Policy

• Tech and Productivity

• About SECI

• About Schemes of MNRE

AJAY GARG

Team AGBians


DI DOMINATED GROWTH AREAS

SOLAR ENERGY AND INDIAJOURNEY FROM 5000 MW TO

100000 MW IN NEXT FIVE YEARS

• Roof Top Opportunities

• Community Building

• Commercial Buildings

• Wasteland

• PPP Model of Railways

• Private-Private Partnership

AJAY GARG

Team AGBians


DI DOMINATED GROWTH AREAS

IN MAKE IN INDIA CAMPAIGN

* SECURITY PRODUCTS * EDIBLE OILS* ELECTRONIC HARDWARE * PROCESSED AGRO PRODUCT

EXIM IMBALANCE WILL BECOME ECONOMICALLY MANAGEABLE

SMPs – EYE CANDY MINISTRIES

AJAY GARG

Team AGBians



• Ministry of MSME www.msme.gov.in

• Ministry of Entrepreneurship, SkillDevelopment, YAS www.yas.nic.in

• Ministry of Food ProcessingIndustries www.mofpi.nic.in

• Ministry of Road Transport andHighways www.morth.nic.in

• Ministry of Urban Developmentwww.moud.nic.in

• Ministry of Social Justice andEmpowerment www.socialjustice.nic.in

http://www.msme.gov.in/

http://www.yas.nic.in/

http://www.mofpi.nic.in/

http://www.morth.nic.in/

http://www.moud.nic.in/

http://www.socialjustice.nic.in/

NEXT BUDGET

AND

YOUR APPROACH

FOCUS

ON EXPENDITURE SIDE

AND

ROBUST PRACTICEAJAY GARG

Team AGBians


EASE OF DOING BUSINESS – REFORMS

AJAY GARG

Team AGBians


TARGET TO IMPROVE EODB RANKING

DIGITAL INDIAREDUCTION IN NUMBER OF FORMS –WILL THERE BE SINGLE TAX NUMBER ?

ONLINE CLEARANCE MECHANISM – IS IT POSSIBLE AND PRACTICAL?

GOVERNMENT APPROVALS – SINGLE WINDOW – CAN IT HAPPEN?

MAKE IN INDIA – WHAT’S NEW?

AJAY GARG

Team AGBians


•MACHINE PRODUCES MORE

THAN MAN

•MACHINE GIVES MORE

EMPLOYMENT THAN MAN

•MACHINE CAN WORK

LONGER THAN MAN

•EVEN SERVICE SECTOR

PRODUCES MORE WITH

MACHINES AJAY GARG

Team AGBians


WHY MAKE IN INDIA ?

AJAY GARG

Team AGBians


And Financial InclusionMAKE IN INDIA CAMPAIGNTIME TO CAREFULLY ANALYSE WHETHER ANY OF MY CLIENT IS

• ELIGIBLE TO GET FUNDS UNDER SOON TO BE LAUNCHED

ELECTRONIC DEVELOPMENT FUND SCHEME

• ELIGIBLE TO GET FUNDS UNDER ‘FUND FOR PROMOTING

INNOVATION, ENTREPRENEURSHIP AND AGRO INDUSTRY’

• ELIGIBLE TO GET CAPITAL SUBSIDY FROM MOFPI

IF YES, THEN AS A PROFESSIONAL WOULD I LIKE TO DO THIS

ASSIGNMENT

AJAY GARG

Team AGBians


DEBT – HIGHLY UNLIKELY

EQUITY – YES – MEANS AND

WAYS

• ANGEL INVESTOR – YES

• VENTURE FUNDING – YES

• CROW FUNDING – YES

• CHANGE FUNDING – YES

• IMPACT FUNDING – YES

• SOCIAL MEDIA FUNDING - YES

AJAY GARG

Team AGBians


EXCITING TIMES FOR SMPs

• IS IT TIME TO MOVE ON AND LOOK BEYOND AUDIT ? PERHAPS YES

• IS IT TIME TO MOVE ON AND LOOK BEYOND DEBT FUNDING?

PERHAPS YES

• IS IT TIME TO MOVE ON AND LOOK BEYOND TAXATION?

PERHAPS YES

AJAY GARG

Team AGBians

Role of CAs in Financial Inclusion

• MONEY TRANSFER TO NATIVE

PLACE

• SUBSIDY TRANSFER

• PARALLEL ECONOMY

• MICRO INSURANCE

• LIFE INSURANCE

• PENSION FOR UNORGANIZED

SECTOR

• BANK BRANCHES ARE OVER CROWDED

• SPECIALISED BRANCHES TO HANDLE

INDIVIDUAL ACCOUNTS

• SPECIALISED CENTERS TO OPEN BANK

SB ACCOUNTS

• BANK BRANCHES IN UNAUTHORIZED

AND UNPLANNED COLONIES

• TWO DEBIT CARDS INSTEAD OF ONE

BANKS – BURDEN OF FINANCIAL INCLUSION

AJAY GARG

Team AGBians


Customer Care Centre in BPP Mode

Will increasingly work as interface between

Bank Branch and Individual Customers

WIN-WIN MODEL

YOU KNOW SBI HAS ALREADY

STARTED SUCH CENTERS ON PILOT

BASIS. JUST CHECK ELIGIBILITY AND

PROFESSIONAL OPPORTUNITIES

AJAY GARG

Team AGBians


BANKS – BURDEN OF FINANCIAL INCLUSION

Team AGBians


…Beyond Bank Account

Life Insurance Policy

Health Insurance Policy

Personal Accident Policy

Joy of Having the PAN Card

Disaster of Not Writing the Will

Nomination and Changes

Thereon

Address and Changes Thereon

Team AGBians


DIRECT SUBSIDY TRANSFER

AJAY GARG

Team AGBians


FORESEEABLE FUTURE

• Challenges of Direct Subsidy Transfer

• Online Interface likely to Happen – very Soon

• Some Sort of Certification – is likely to happen

• Being Financial Matter – Certification will bring

responsibility

• Some Sort of Interface between Govt and Subsidy

Receiver

CHARITY BEGINS AT …

Whether My ……….. are

Financially Included ?

My Unqualified Staff

My Articles in Very First Month

My Class IV Staff

My Driver

My Domestic Servant

Team AGBians


SILVER JUBILEE MEMBERS

Would I Love to Adopt a Village

for Financial Literacy?

Would I Love to Adopt One

Government School for

Financial Literacy?

Would I Love to Adopt One RWA

for Spreading Financial

Literacy?

Would I Love to Adopt one of My

Client Company for Financial

Literacy?Team AGBians


Be the Active

Member of at

Least One

AJAY GARG

Team AGBians

How and How Much I can contribute for Larger

Cause!!!

Who Will Cry When I will Leave World

With Whom to Share and What to Share

My Life – My Choice. AJAY GARG

Team AGBians

EXPLORE - THINK - ACT

Ajay Garg

Team AGBians

[email protected]

www.agbcorplegal.com

09811386723

http://www.agbcorplegal.com/

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CA Professionals and Financial Inclusion