Centre has set right tone, signals: BCIC

Our Bureau Bangalore | Updated on June 10, 2014 Published on June 10, 2014

Bangalore Chamber of Industry and Commerce (BCIC) said the new government at Centre has setthe right tone and signals to the economy which has seen a downturn over the past 3 years.

The government has set a forward thinking economic agenda and has been sending positive signals to overseas investors that ‘political stability and economic reforms is here to stay’, said HV Harish, President, BCIC.

The new BJP government is not only forward looking but also focused on bringing about a quick turnaround in the economy which is currently reeling under high food inflation and declining growth, he added.

The agenda is focused on all the key aspects of the economy and governance be it investment, inflation, agriculture, poverty, urbanization and education.

Positive vibes

“On the same vein, the agenda is sending positive vibes to overseas and domestic investors that political stability and economic certainty is here to stay, which in itself will boost the business confidence,” said Harish.

“We particularly commend the government in giving its importance not only to economic, political but also social infrastructure issues which should augur well for the overall economic development of the country. We welcome the statement of the President which aims at ‘putting the economy back on track’ which is a must to ensure growth in incomes and poverty reduction,” he added.

AN Chandramouli, Senior Vice-President, said “The Modi government’s reiteration to job creation through tourism and manufacturing, skill development, development of 100 new cities and high-speed train networks are welcome measures and if implemented with right earnest will insulate the economy and resolve unemployment issues to a large extent.”

He further added “Though every aspect of the agenda is welcome as an industry body, the only aspect we are really worried and concerned is that the implementation of each of the policy measures should be made time-bound and monitored to the last mile; only then, the 60-month target set by the Modi Government can be realised.”

Published on June 10, 2014
This article is closed for comments.
Please Email the Editor