India Inc says UPA government investment friendly: ASSOCHAM
An ASSOCHAM survey covering nearly 400 CEOs and MDs of various companies said India Inc has given 7 points out of 10 to the govt. Tips for NRIs investing in India
By PTI |
NEW DELHI: India Inc has rated the performance of UPA government as "more than satisfying" in the last 3 and half years, describing it as investment-friendly to a fair extent, an ASSOCHAM survey has said.
The survey covering nearly 400 CEOs and MDs of large, medium and small size companies, said India Inc has given seven points out of ten to the government.
"70 per cent of CEO's felt that the government's performance was good in terms of keeping average GDP growth to around 8.3 per cent with exports registering a growth of 18-20 per cent despite rupee appreciation and savings rates growing at over 31 per cent," it said.
However, inflation remained a prime concern for the government, which despite best efforts stayed at 6 per cent and drew criticism for the UPA government, Assocham President Venugopal Dhoot said.
Around 35 per cent rated the government's performance as just average, arguing that neither employment increased substantially nor reforms in labour market were introduced and therefore, the growth rate cannot be termed as "inclusive".
The government's progress on FTA front as also foreign exchange reserves were appreciated by 85 per cent of the respondents, while nearly 30 per cent of CEOs and MDs have hailed the leadership of Manmohan Singh in handling the nuclear issue with the US.
Nearly 70 per cent of the CEOs said the government deserves only 7 marks out of 10 because prices of agricultural commodities showed a sharp rise during UPA rule primarily due to stagnating production and rising demand.
The survey covering nearly 400 CEOs and MDs of large, medium and small size companies, said India Inc has given seven points out of ten to the government.
"70 per cent of CEO's felt that the government's performance was good in terms of keeping average GDP growth to around 8.3 per cent with exports registering a growth of 18-20 per cent despite rupee appreciation and savings rates growing at over 31 per cent," it said.
However, inflation remained a prime concern for the government, which despite best efforts stayed at 6 per cent and drew criticism for the UPA government, Assocham President Venugopal Dhoot said.
Around 35 per cent rated the government's performance as just average, arguing that neither employment increased substantially nor reforms in labour market were introduced and therefore, the growth rate cannot be termed as "inclusive".
The government's progress on FTA front as also foreign exchange reserves were appreciated by 85 per cent of the respondents, while nearly 30 per cent of CEOs and MDs have hailed the leadership of Manmohan Singh in handling the nuclear issue with the US.
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Nearly 70 per cent of the CEOs said the government deserves only 7 marks out of 10 because prices of agricultural commodities showed a sharp rise during UPA rule primarily due to stagnating production and rising demand.
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