India Inc Hails One Year Of Modi Govt
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Based on ratings and voices of support from industry platforms, India Inc has hailed the positive performance of the Narendra Modi led NDA Government which completes one year in office on May 26.
Two days ago, Narayan Murthy, Infosys co-founder credited Modi as an outstanding Prime Minister at a CII event whereas Assocham has rated the government seven out of ten for making the Parliament work smoothly that could result in clearance of some key Bills.
PHD chamber of Commerce and Industry termed the new government’s performance as ‘more than satisfactory’ awarding 7.4 out of 10 because the macro outlook of Indian economy improved on parameters of growth, inflation, foreign institutional investment and as well as growth of services sector and construction, it said.
According to Narayan Murthy, who spoke at a CII event some days ago, as the PM is ‘enthusiastic’ and ‘hard working’, the Opposition parties should rally behind him. “...Therefore, we must all be with the PM and support him and we continue to do things with the sense of efficiency, then I'm sure we will make some progress," he had said.
Industry body Assocham , which awarded seven points to the Modi Government said it had taken many steps to revive the economy. “Although it takes a more than a year to see actual change on the ground,” it had added. “The government deserves credit for somehow making parliament run better with the result that some of the difficult legislations have been cleared. These include raising FDI limits in insurance and the Defence sectors to 49 per cent” said Mr Rana Kapoor, President of Assocham .
On his part, PHDCCI President Alok B. Shriram urged the government the importance of implementation of Goods and Services Tax for creation of single unified market. The chamber expressed its demand to pass the land Acquisition Bill to enable the Prime Minister to full his dream of accomplishing extension of reforms for factor markets since so far reforms have addressed the issue of product markets. It suggested the nation should have patience to allow the new government to pursue and fulfil its economic agenda for 1-2 year more.