100 Days of Modi Govt: India Inc. gives a thumbs up to PM Modi but insists still a long way to go Daily Bhaskar - New Delhi: Prime Minister Narendra Modi has not unleashed any big-ticket reform but industry seems happy with his direction and intention to push India on the growth trajectory. Industry believes that Modi cant be expected to bring about a turnaround in just 100 days, but the steps taken by him are likely to give good results in the near future. Most believe that he should be given at least six to nine months before assessing NDA government’s real performance. Many top industrialists believe Modis intentions are clear and he has been able to instill confidence in the industry. Modi is seen as a man who believes in giving results. Industry leaders believe that he will take big decision too, but right now he is trying to put things in order and completing the projects that were held up for one reason or the other. Apart from that, Modi is laying the roadmap for future growth and results will be seen in a few months. Experts believe that Modi is working hard to establish India as an investment destination which would provide jobs to the youth. Decisions that got thumbs up from the government 1. Raising the foreign direct investment cap in the defence and insurance sectors from 26 per cent to 49 per cent is one such. 2. Finance Minister Arun Jaitley has clarified ordinarily; the government wouldnt bring about any retrospective change that could lead to fresh tax liability. 3. Clearances and amendments to archaic labour laws which is likely to trigger the growth cycle and capital expenditure. 4. Modi has taken many steps to execute and implement the decisions required for growth which was missing for many years in the previous government. Modi has made bureaucrats accountable and assured them his full support. 5. He expects his ministers to be accountable. His decision to discard group of ministers is being seen as an effort to speed up decision making by cutting down on unnecessary delays. 6. Although Insurance Bill has been referred to a select committee in Parliament. But the bill is need of the hour and important for Insurance sector. Adi Godrej, Chairman Godrej Group, gives distinction marks to Modi and his ministers. “Prime Minister is determined to usher in good governance and making serious efforts to introduce ease of doing business, Adi Godrej told Daily Bhaskar. “Growth oriented budget and government moving further on the road to reforms makes me very optimistic, he adds. Ajay S Shriram, president of the Confederation of Indian Industry and chairman and senior managing director of DCM Shriram, appreciates governments efforts to create jobs by making India an attractive investment destination.
Posted on: Fri, 29 Aug 2014 06:32:19 +0000
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