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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
Role of CAs in Make in India
…And
Any EDP
Is Unlikely to be
Complete
Without
Financial Lessons!
AJAY GARG
Team AGBians
Role of CAs in Make in India
…Skill Development
To Get Translated into
Self Employment
Must be coupled with
Commercial Economics
AJAY GARG
Team AGBians
Role of CAs in Make in India
…And
Self Employment
Is Unlikely to Succeed
Without
Handholding by CAs
AJAY GARG
Team AGBians
Role of CAs in Make in India
And Financial Inclusion
AJAY GARG
Team AGBians
Role of CAs in Make in India
FDI DOMIANTED GROWTH AREAS
• DEFENCE
• RAILWAYS
• MINING
• ENERGY
• AVIATION
AJAY GARG
Team AGBians
Role of CAs in Make in India
DI DOMINATED GROWTH
AREAS
SOLAR ENERGY AND
INDIA
TIME TO MAKE AWARE
ABOUT
Investment Per KW
• Net Metering Policy
• Tech and Productivity
• About SECI
• About Schemes of MNRE
AJAY GARG
Team AGBians
Role of CAs in Make in India
DI DOMINATED GROWTH AREAS
SOLAR ENERGY AND INDIA
JOURNEY 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
Role of CAs in Make in India
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
Role of CAs in Make in India
And Financial Inclusion
• Ministry of MSME www.msme.gov.in
• Ministry of Entrepreneurship, Skill
Development, YAS www.yas.nic.in
• Ministry of Food Processing
Industries www.mofpi.nic.in
• Ministry of Road Transport and
Highways www.morth.nic.in
• Ministry of Urban Development
www.moud.nic.in
• Ministry of Social Justice and
Empowerment www.socialjustice.nic.in
NEXT BUDGET
AND
YOUR APPROACH
FOCUS
ON
EXPENDITURE SIDE
AND
ROBUST PRACTICE
AJAY GARG
Team AGBians
Role of CAs in Make in India
EASE OF DOING BUSINESS – REFORMS
AJAY GARG
Team AGBians
Role of CAs in Make in India
TARGET TO IMPROVE EODB RANKING
DIGITAL INDIA
REDUCTION 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
Role of CAs in Make in India
•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
Role of CAs in Make in India
WHY MAKE IN INDIA ?
AJAY GARG
Team AGBians
Role of CAs in Make in India
And Financial InclusionMAKE IN INDIA CAMPAIGN
TIME 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
Role of CAs in Make in India
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
Role of CAs in Make in India
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
Role of CAs in Financial Inclusion
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
Role of CAs in Financial Inclusion
BANKS – BURDEN OF FINANCIAL INCLUSION
Team AGBians
Role of CAs in Financial Inclusion
…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
Role of CAs in Financial Inclusion
DIRECT SUBSIDY TRANSFER
AJAY GARG
Team AGBians
Role of CAs in Financial Inclusion
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
Role of CAs in Financial Inclusion
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
Role of CAs in Financial Inclusion
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
agbcorplegal@gmail.com
www.agbcorplegal.com
09811386723

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CA Professionals and Financial Inclusion

  • 1. 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
  • 2. EDPs SKILL DEVELOPMENT SELF EMPLOYMENT TIMES …AND TIMES ARE CHANGING AJAY GARG Team AGBians Role of CAs in Make in India
  • 3. …And Any EDP Is Unlikely to be Complete Without Financial Lessons! AJAY GARG Team AGBians Role of CAs in Make in India
  • 4. …Skill Development To Get Translated into Self Employment Must be coupled with Commercial Economics AJAY GARG Team AGBians Role of CAs in Make in India
  • 5. …And Self Employment Is Unlikely to Succeed Without Handholding by CAs AJAY GARG Team AGBians Role of CAs in Make in India And Financial Inclusion
  • 6. AJAY GARG Team AGBians Role of CAs in Make in India FDI DOMIANTED GROWTH AREAS • DEFENCE • RAILWAYS • MINING • ENERGY • AVIATION
  • 7. AJAY GARG Team AGBians Role of CAs in Make in India DI DOMINATED GROWTH AREAS SOLAR ENERGY AND INDIA TIME TO MAKE AWARE ABOUT Investment Per KW • Net Metering Policy • Tech and Productivity • About SECI • About Schemes of MNRE
  • 8. AJAY GARG Team AGBians Role of CAs in Make in India DI DOMINATED GROWTH AREAS SOLAR ENERGY AND INDIA JOURNEY 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
  • 9. AJAY GARG Team AGBians Role of CAs in Make in India DI DOMINATED GROWTH AREAS IN MAKE IN INDIA CAMPAIGN * SECURITY PRODUCTS * EDIBLE OILS * ELECTRONIC HARDWARE * PROCESSED AGRO PRODUCT EXIM IMBALANCE WILL BECOME ECONOMICALLY MANAGEABLE
  • 10. SMPs – EYE CANDY MINISTRIES AJAY GARG Team AGBians Role of CAs in Make in India And Financial Inclusion • Ministry of MSME www.msme.gov.in • Ministry of Entrepreneurship, Skill Development, YAS www.yas.nic.in • Ministry of Food Processing Industries www.mofpi.nic.in • Ministry of Road Transport and Highways www.morth.nic.in • Ministry of Urban Development www.moud.nic.in • Ministry of Social Justice and Empowerment www.socialjustice.nic.in
  • 11. NEXT BUDGET AND YOUR APPROACH FOCUS ON EXPENDITURE SIDE AND ROBUST PRACTICE AJAY GARG Team AGBians Role of CAs in Make in India
  • 12.
  • 13.
  • 14.
  • 15.
  • 16. EASE OF DOING BUSINESS – REFORMS AJAY GARG Team AGBians Role of CAs in Make in India TARGET TO IMPROVE EODB RANKING DIGITAL INDIA REDUCTION 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?
  • 17. MAKE IN INDIA – WHAT’S NEW? AJAY GARG Team AGBians Role of CAs in Make in India
  • 18. •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 Role of CAs in Make in India WHY MAKE IN INDIA ?
  • 19. AJAY GARG Team AGBians Role of CAs in Make in India And Financial InclusionMAKE IN INDIA CAMPAIGN TIME 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
  • 20. AJAY GARG Team AGBians Role of CAs in Make in India 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
  • 21. AJAY GARG Team AGBians Role of CAs in Make in India 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
  • 22. 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
  • 23. • 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 Role of CAs in Financial Inclusion
  • 24. 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 Role of CAs in Financial Inclusion BANKS – BURDEN OF FINANCIAL INCLUSION
  • 25. Team AGBians Role of CAs in Financial Inclusion
  • 26. …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 Role of CAs in Financial Inclusion
  • 27. DIRECT SUBSIDY TRANSFER AJAY GARG Team AGBians Role of CAs in Financial Inclusion 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
  • 28. 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 Role of CAs in Financial Inclusion
  • 29. 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 Role of CAs in Financial Inclusion
  • 30. Be the Active Member of at Least One AJAY GARG Team AGBians
  • 31.  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