The BJP-led combines failure to notch up 272 Lok Sabha seats needed to form a majority government at the Centre cast a pall of gloom over many industrialists at an interactive press meet here yesterday. They privately expressed disappointment that the party might once again have to sit in the opposition.
However, in the event of a Congress-led coalition assuming power, many industrialists backed Maratha strongman Sharad Pawar and former Lok Sabha speaker P Sangma as potential Prime Ministerial candidates. Dr Manmohan Singh was the unanimous choice for the finance ministers portfolio.
A senior Mumbai-based industrialist and CII member said: One reason why the BJP evokes a more comfortable response from the domestic industry is that it is the only party with a clear-cut stand on different policy issues. The wishy-washy views of both the Congress and the UF have prevailed for too long.
Another industrialist echoed the disappointment of the Bombay-Club at the poll-verdict that failed to provide the BJP with a clear mandate. Most old-time, family-controlled business houses are disappointed at the prospect of the BJP being unable to form the government.
Many industrialists, however, still nurtured hopes that the BJP and its allies might be successful in forming the government if the combine reached the 250-seat mark. The key, they said, lay in coercing some of the UF constituents to take a neutral stand.
Most industrialists blamed the Shiv Sena for the BJPs inability to sweep to power. They attributed this to major reversals in Maharashtra, mainly due to the excesses of the Shiv Sena cadres under Bal Thackareys leadership, and the failure to keep a check on the deteriorating law and order situation in the state.
Vinod Doshi, chairman of Premier Automobiles Ltd, said: Though there was a feeling that the combine might not do as well as the last time, the margin of defeat was very surprising.
This feeling was endorsed by Shekhar Datta, MD of Greaves Ltd, who said: There was a growing underlying feeling that the combine would suffer losses in the state (Maharashtra).
CII agenda for new govt
The CII yesterday finalised its agenda of economic issues which it thinks should be addressed by the new government. Its three pronged agenda focuses on infrastructural, administrative and economic reforms. The CII had set up three committees to identify issues besides formulating policy guidelines in these areas. The committee on administrative reforms, headed by Subodh Bhargava, identified red tapeism as a major impediment to industrial growth. The infrastructure reforms committee, headed by K Shenoy, suggested speedy implementation of new projects besides revamping of old ones, specially in power sector. The committee on economic reforms led by N Kumar, suggested growth oriented policies to put the country on the growth curve.
