Zee Media Bureau/Reema Sharma
New Delhi: India Inc on Friday applauded the good work done by Prime Minister Narendra Modi-led BJP government in the last one year.
Evaluating government's performance at the Zee Media Conclave Modi @1, Indian corporates said that Narendra Modi's 'acche din' dream will come true gradually.
A panel of Industrialist and specialist comprising Hemant Kanoria, Chairman and Managing Director of Srei Infrastructure Finance; Arun Bharat Ram, Chairman of SRF Limited; Bibek Debroy, permanent member of NITI Aayog; V Vaidyanathan, Chairman and Managing Director Capital First; RC Bhargava Chairman Maruti Suzuki; Ajit Gulabchand, Chairman and Managing Director Hindustan Construction Company and Ashish Chauhan, BSE, MD CEO spoke extensively on government policy, its achievement in the last one year and future course of action.
RC Bhargava said, “I have never seen such tremendous work that I have seen this year, except for 1991. Sectors like coal have given incredible revenue to the government. Earlier corruption and scams were rampant but in the last one year no one has heard about any scam.”
Ajit Gulabchand said, “Government has done a very good work. But to expect that things will change overnight is not good. It will take time and government is going in positive direction.”
Arun Bharat Ram said, “I agree with Mr Bhargava and Gulabchand. “Acche din” will surely come but it will take a little time. When the new government came, fiscal deficit and bank NPA was very high. But I think now the industry is ready for investment. Inflation has come down so the RBI should further bring down interest rates so that the aam aadmi can spend more and in the long run impact PM's Make in India.”
Bibek Devroy said, “Most of the social sector spending is a state subject, people fail to notice this. One should not ask what the Union government is doing on health, it should rather ask how much the state is utilising from the central fund.”
V Vaidyanathan said, “We had seen policy paralysis in the last five years which made doing business difficult. However the new government has raised Rs 2 lakh crore from 20 coal blocks and put in treasury. It is taking money back from corporates and spending for public welfare. We must appreciate the government for its good work. Many allege that this government is “suit boot ki sarkar”. I would say that it is good that the 'suit boot ki sarkar' is taking back money from the corporate and doing social welfare.”
Hemant Kanoriya said, “We have immense hope from the government. In the last one year we have seen government intent and sincerity. Though there has not be any significant changes in the tax laws, I hope that the government will do it gradually. There are many infrastructure hurdles and bottlenecks which should be first removed. The Land Bill will take time as the last government also took time. However, if Centre prepares a framework on Land Bill, the state governments can easily decide local policy.”
Ashish Chauhan said, “There was policy corruption and natural resources were given for almost free but the new government has not shown any policy corruption. The government has raised a lot of money by conducting auction of spectrum and coal. Inflation was a big issue earlier but now it has come down. Government policy played a good role in doing this. In the last ten years there was no job creation. Things like 'Make in India' and PM 'Jan Dhan Yojna' has given a framework which will help in skill development and job creation. PM has gone abroad and sought for foreign investment. This is a very good indication”.
