However, the survey found that a part of the industry which expected big bang announcements right from the word go did not get it right while a realization is dawning fast that the Modi Government has an ear to the ground showing preference for implementation rather than big time announcements without follow-up.
"Look at the way, the PM's Jan Dhan Yojna is being implemented in a mission mode with a set target to be achieved in a fixed time. The entire banking machinery has been geared towards financial inclusion. The big difference between the old scheme and this one is the approach for achieving the targets, come what may," Kapoor, himself a renowned banker said.
To a big majority of CEOs, 74 per cent, it has become clear by now that the Modi government will move in an incremental but decisive way given the strong mandate for five years in the May Lok Sabha elections.
They also agreed that in the backdrop of high pitch election campaign led almost single-handedly by PM Narendra Modi, the expectations level was soaring sky in the first few weeks of his assuming office. However, his style of functioning which is rooted in getting the best out of the government machinery and on the delivery mechanism is becoming clear, giving confidence that in the next six to nine months, the economic situation will be quite different.
of the legacy issues like high corporate debts, big bank NPAs,
complexities in the proposed Goods and Services Tax will be resolved
in a manner which will be quite convincing, consolidating the gains
of economic growth," the survey summary said.
Some of the initiatives like reaching out to neighbors in south Asia, giving economic priorities to Asian giants like Japan, China and Singapore have come in for special appreciation from the corporate leaders.
"His visit to Japan looks very convincing as the Prime Minister goes about in a business like manner with a set agenda of seeking much larger Japanese investment in India's infrastructure projects like Delhi Mumbai Industrial Corridor, high speed railways, smart cities etc.
However, the CEOs , 67 per cent of the ones
covered in the survey, emphasized that some of the short-term and
pressing problems like power shortages, debottlenecking the port
capacity, coal linkages etc must be done on a top priority
They also hoped that the government will be able to handle the situation arising out of the Supreme Court declaring all the coal blocks allocations illegal between 1993-2009, in a mature way, hoping that the apex court would also take a realistic way of dealing with the issue to ensure that economic losses which can run into lakhs of crores are avoided.
"There is also an
expectations that though the Land Acquisition Act may not be scrapped
altogether, it would be made workable, while a similar pragmatic
approach would be followed with regard to labour laws. The BJP
Government in Rajasthan has set an example by moving quickly on the
issue earning acclaim not only from the industry but also the
workforce," the report noted.
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