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Thursday, May 29, 2014

Industry confident Modi Govt will deliver on growth, transparency-ASSOCHAM

Watching with great interest the first day of Prime Minister Mr Narendra Modi and his key cabinet ministers like Finance, Telecom, Law, Power and Coal in office, ASSOCHAM President Mr Rana Kapoor said the industry gets a clear message that the new NDA Government will work towards achieving growth with low inflation in a transparent and policy-driven regime. 

“The stage was set by the Prime Minister himself when he posted his message on the PMO website without losing any time that his government will deliver development, good governance and stability. 

"The Finance Minister Mr Arun Jaitley's opening remarks on taking charge in North Block that his priority would be to expedite decision- making is quite assuring for the industry which can now rework its investment cycle”, Mr Kapoor said. 

A similar signal came about from Mr Ravi Shankar Prasad who said, both in his capacity as the minister for Law and Telecom that fiscal stability and ensuring growth in a non-discriminatory manner would be the mantra of the new government. “This is important given the fact that the telecom sector has witnessed some of the inglorious periods despite achieving a glorious growth thanks to scams in the past.” Mr Kapoor said. 

The initial remarks by the minister in-charge of the Coal and Power, Mr Piyush Goyal also assured industry that the allocation of natural resources will be policy driven while some of the areas of conflicts between power and coal would be resolved. “The issue of coal linkages for the power plants is expected to be thrashed out in the near future,” the ASSOCHAM President said. 

He said that besides the focus on economic issues, the new government has made an excellent beginning on the geo-political situation in South Asia which holds a great potential for industry and trade. “Building of bridges with Pakistan is noteworthy in particular,” Mr Kapoor said.
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