Political parties should keep up to manifesto promises: PHDCCI

NEW DELHI: The rhetoric of the two leading political combine not withstanding, industry chambers find a convergence among the economic growth perceptions of the major political - ruling National Democratic Alliance and Congress.
Commenting on the election manifestoes of the two parties, Ravi Wig, President, PHD Chamber of Commerce and Industry (PHDCCI) said that though there is a convergence on growth perceptions, each party should spell out a time bound plan for implementing the promises that they have made in their manifestoes.
“It is heartening to note that both the BJP and Congress vision statements have specifically focused on the need for achieving 10% annual growth in Gross Domestic Product (GDP)," said Wig. PHDCCI is the apex industry chamber for Northern India and its membership is spread across the 10 states and union territory of Delhi.
He pointed out that PHDCCI has critically analysed the economic content of the manifestos and vision statements of political parties, and is happy that the focus given to economic aspects is more than what they used to give in the previous years. It is an indication that economic issues are becoming centrestage of political agenda and electorate are increasingly judging the parties on their economic performance.
Wig said that there has been commonality of approach among the political parties for achieving the required growth with equitable distribution of income.

The PHDCCI chief said that there is a consensus among the political parties on the future direction of the reform process. There is a near consensus among them on matters relating to growth of the manufacturing sector, acceleration of savings and investment, privatisation, power sector reforms, disinvestment, capital market reforms, faster integration of the Indian economy with the global market and the need for administrative, judicial and legal reforms required to supplement and complement the process of economic growth.