Several reports say that a senior telecom official said that the gargantuan expectations from the Modi government has only led to disappointment in the Telecom sector and rated the government's performance a four out of ten.
Where most of the organisations are praising PM Modi for his achievements, Confederation of India Industry (CII) had said that there has been no big-bang investments in the first year and issues on ease of doing business still needs to be addressed.
“I really want to see that red tape to red carpet happen. I dont just want it to be a statement. So the application forms, inspectors, rigour that one has to go through to set up an industry is addressed, along with digitization of forms so that everything is quick,” said Sumit Mazumder, President, CII.
Several reports say that a senior telecom official said that the gargantuan expectations from the Modi government has only led to disappointment in the Telecom sector and rated the government's performance a four out of ten.
On the contrary, on the completion of Prime Minister Narendra Modi's first year, Federation of Indian Chambers of Commerce and Industry (FICCI) praised the initiatives taken by him.
The organisation noted that the ease of doing business index in India is increasing but it would take at least two years for the results to become visible.
India is ranked 142 in ease of doing business index.
Jyotsna Suri, President, FICCI said, “GDP growth has improved, inflation is considerably lower, fiscal and current account deficit are under control and we are seeing an influx of foreign investment into the country.”
India Inc as well expects major initiatives to be taken by the Modi government in the next two quarters which will move sectors forward such as road, power, coal, non-renewable energy.
The Associated Chambers of Commerce of India (ASSOCHAM) rated Modi government 7 out of 10. The organisation said it still needs to cover some ground on tax issues.
It also said that a lot needs to be done on improving the ease of doing business at the state level.
Assocham said, “The NDA government has to cover some ground in terms of taxation issues, particularly with regard to FII's problems on retrospective liabilities and in taking big ticket infrastructure projects off the ground.”
They also hope that the GST Bill will finally move towards a law.
According to Ranen Banerjee, partner-public finance, PricewaterhouseCoopers (PwC) India, biggest setback for the government was the land acquisition bill which got stuck in a logjam.
The 'Make in India' initiative has got a lot of positive response from these organisations.
They said that the biggest challenge that the government has to face is to make those accounts active which were opened under the Jan Dhan Yojana scheme.
(with agencies)
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