'Farmers, vendors exhibit more entrepreneurship than Indian corporates'
Kolkata, May 11: India's small farmers and street vendors are exhibiting far more entrepreneurship than the country's corporate sector, Bibek Debroy, Chairman of the Prime Minister's Economic Advisory Council, said here on Friday.
"Entrepreneurship cannot be taught but skills can be taught... let me tell you a small farmer exhibits far more entrepreneurship than the Indian corporate sector does. Let me remind you that the poor vendors on the streets of India are exhibiting far more entrepreneurship than the Indian corporate sector does," he said while addressing the Sixth Convocation of IMI-Kolkata.
He said one cannot encourage entrepreneurship without encouraging failure.
"We all think of successes of entrepreneurship; 95 per cent of entrepreneurial attempts failed," Debroy said.
Debroy, a member of NITI Aayog, also spoke of the need for the Indian education system
to facilitate or provide an enabling environment for entrepreneurship.
"...(there is a) huge question mark about whether Indian education system at all facilitates or provides enabling environment for entrepreneurship," the economist said.
When Prime Minister talks about Start Up India and Stand Up India, it is not about the corporate sector but is about entrepreneurship, he said.
Referring to an IMF report released after India opened up the economy in 1991, he said it had suggested it would take 153 years for a country like India to halve the gap in per capita income that exists with the developed countries.
"The lesson of the last couple of decades has been that there is no need to wait for 153 years," he said.
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Man sets fire to gas cylinder on truck in Kerala's Kottayam, held
Kottayam(Kerala) (PTI): A 33-year-old man climbed onto a parked truck carrying cooking gas cylinders and set fire to one of them near Thalayolaparambu in the small hours of Saturday, police said.
The incident occurred around 12.30 am, they said.
The fire and rescue personnel soon arrived at the scene and extinguished the fire, averting a major disaster.
According to police, the man is suspected to be under mental distress as he claimed that he was walking from Ernakulam to his home in Marangattupilly here when he saw the truck on the roadside.
An FIR under sections 329(3)(criminal trespass),324(2)(mischief),326(f)(mischief by injury, inundation, fire or explosive substance) of the Bharatiya Nyaya Sanhita was lodged against him.
Police said that the man was formally arrested, but will be released on station bail as the offences he is accused of are bailable.
"His family is here at the station and he will be released to them," the officer said.
In the FIR, police have said that the man opened the seal of one of the gas cylinders and set fire to it with the knowledge that his act was dangerous to those living in the area.
According to the company transporting the cooking gas cylinders, it suffered a loss of Rs 2,300 in the incident.
