India Inc enthused by decisive Cabinet reshuffle by PM, says ASSOCHAM

By undertaking a decisive reshuffle of his Council of Ministers, Prime Minister Narendra Modi has conveyed a strong resolve to put a premium on performance of his colleagues to improve quality of governance and make difference in the lives of common people, ASSOCHAM said today.

"As the NDA Government is about to reach a half-way mark, the Cabinet reshuffle along with other initiatives like the recent textile package, liberalization in FDI rules would counter those who thought the Narendra Modi Government may not be able to pursue the pace of reforms and decision making in the second part of its innings," said ASSOCHAM Secretary D S Rawat.

"If the GST Bill is passed in the ensuing Monsoon session of Parliament that will be a master stroke for a huge uplift in the business sentiment even as the implementation of the new taxation regime would still take time," added D S Rawat.

India Inc is quite enthused by the strong leadership quality of the Prime Minister at a time when the country is grappling with the global head winds and geo-political risks from terrorism, political upheavals in Britain and European Union and the mood swings in the US in the run-up to Presidential elections.

He said the best part of the reshuffle is that the Prime Minister has displayed his clear preference for energy and efficiency.

"Since he leads from the front, he expects his ministers too to perform likewise. Besides, his interest into detailing of specific issues like drought management, financial inclusion, employment generation, solar energy and sanitation has built enough pressure within the government to put focus on delivery," added the chamber.

The ASSOCHAM expects several new measures and decision in the coming days and weeks, including announcement of new RBI Governor, to further boost investor confidence in the Indian economy.

He further said that the favorable weather conditions along with clear cut policy framework can make a lot of difference. The things are beginning to happen in the infrastructure space, particularly in the road and highway sectors. Hopefully, the manufacturing too would see better days ahead.