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BW Businessworld

Slowdown Has Not Shaken Corporate India’s Faith In PM Modi, Finds BW Businessworld Survey

Corporate India feels that the roll out of some of the schemes of the Modi government like the constitution of an economic advisory council are welcome

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India might be debating an economic slowdown, and Corporate India may be feeling the heat in the wake of demonetisation and contentious implementation of GST, but that has not shaken its faith in PM Narendra Modi.

An exclusive BW Businessworld-Traverse survey of Corporate India found that 45 per cent of Corporate leaders replied in the negative when asked if the present economic slowdown had shaken their faith in PM Modi. They nevertheless hold the NDA Government responsible for economic mismanagement.

Also, as many as 45 per cent of Corporate India leaders agree that the reforms brought in by the Modi government would bring in long-term gains, even if there is short-term pain. 38 per cent of Corporate India leaders replied in the negative to this question.

75 per cent of Corporate India leaders were happy with measures like an economic advisory council that PM Modi announced recently.

Asked if there’s a public perception of economic mismanagement, 42 per cent Corporate India leaders said ‘yes’, as opposed to 31 per cent saying ‘no’.

Asked about the reasons for the economic slowdown in the country, 74 per cent said it was fiscal mismanagement, 26 per cent said external factors, and 30 per cent said faulty implementation of measures like demonetisation and GST (respondents here voted for more than one option).

In all, 328 corporate leaders, from across the country, were surveyed.