BENGALURU: It is true that Modi government was unable to fulfill all the promises made to the top businessmen in India. In spite of that he earned the trust of most businessmen in India who gave a 7 on 10 for Modi government’s efforts to revamp the economy. ET reports that as many as 55 top CEOs of India Inc gave kudos to Modi’s working style and his reforms aimed at curbing corruption and ease the rules of doing business in India.
Despite the logjams in Land Acquisition Bill and GST Bill, these businessmen see a positive approach taken by the Modi government to facilitate business in India.
Chanda Kochhar, MD and CEO, ICICI Bank said, "a significant change over the last one year has been the improved macroeconomic conditions. GDP growth has picked up, inflation has eased and external sector indicators are stronger today. Government action has been seen on multiple fronts in the last one year, and the focus is not just on addressing immediate challenges, but also articulating a vision for India."
On a scale of ten Modi Sarkar has been given a rating of seven on 10 as an average by the CEOs. On the other hand Finance Minister Arun Jaitely has been given a six on 10 for his performance this year, RBI Governor Raghuram Rajan was given an eight on 10 and was praised for brilliantly curbing the inflation and rupee remarkably stable at a volatile time.
Overall though the government has performed well the CEOs say it is a long way to go for Modi Sarkar, as the external factors are beyond the control of RBI. Going by the polls conducted by ET, 78 percent respondents say the government was doing a lot to curb corruption and 22 percent say things are still bad and there is a lot more to be done.
It is certain that Modi has won the corporate in spite of failing to keep up the promises he made. Corporates, on the other hand are optimistic about Modi.
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