BUSINESS CONFIDENCE AT CLOUD 9 WITH NEW GOVT. IN POWER: PHD CHAMBER

BUSINESS CONFIDENCE AT CLOUD 9 WITH NEW GOVT. IN POWER: PHD CHAMBER

BUSINESS CONFIDENCE AT CLOUD 9 WITH NEW GOVT. IN POWER: PHD CHAMBER

No.PR-43
June 12, 2014
New Delhi

BUSINESS CONFIDENCE AT CLOUD 9 WITH NEW GOVT. IN POWER: PHD CHAMBER

 

India Inc’s business index confidence and business opportunity cost have shown substantial improvements with Modi Government firmly in place ever since it occupied the office late last month as both these indices peaked up at 9 points out of 10, concludes a random survey, undertaken by PHD Chamber of Commerce and Industry in last two weeks.

Not only the massive stock market boom was witnessed in the last two weeks but also couple of other policy measures undertaken ever since the new government returned to power in the last 10-12 days such as scraping of Group of Ministers (GoM) and Prime Minister’s assurances to bureaucracy not to fear intimidation scrutiny from watchdogs like the CBI in its day-to-day decision making are the two leading factors that have led to drastic improvements in rising business index confidence and business opportunity costs in Indian industry, further highlights the survey.

The Survey in which the opinion of 300 entrepreneurs, having affiliation to PHD Chamber of Commerce and Industry were polled in also indicates that the momentum of doing business in India would accelerate to a level that cannot be fathomed now.

Releasing its findings, President of the PHD Chamber Mr. Sharad Jaipuria said that over 80% of business people reasoned that Mr. Modi’s leadership spurred stock market boom and brought back confidence at higher echelon of bureaucracy for expediting decision making with his assurance that consequential after effects noticed later on in their decision taken for serving the public cause will not be subjected to scrutiny.

It is not even the business confidence alone that has moved up drastically with industry anticipating fairer governance with little regulatory interventions but promises for reviewing the Ganga Action Plan (GAP) afresh and cleaning other such rivers including retaking river linkages with additional vigor and washing away open defecating have gone well with people of India to improve its social indicators, felt almost 95% of entrepreneurs that were polled-in the Chamber’s survey.

Promising dwelling units for all especially, populace below poverty line and a vast section of vulnerable population by 2022 is another commitment of the NDA government which is seen a doable job and not a utopian idea in the emerging socio economic scenario of India which will further measure for strengthening credibility of the social indicators of the new government, concludes the survey.
ENDS
Koteshwar Prasad Dobhal
Consultant (PR)