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The Government has Exceeded Expectations: CII President
May 22, 2015

Has Done More than Any Other Government has Done in One Year: Sumit Mazumder

Commenting on the first one year of the Government, Mr Sumit Mazumder, President, CII said “the Government has exceeded our expectations and has achieved more in the first year than any other government has achieved in their first year.” 

Mr Mazumder added “an action-packed year has gone by since the Government under the leadership of Prime Minister Shri Narendra Modi assumed office and CII believes that economic strategies and deliverables have gained huge momentum. Stress on governance and tax administration for a non-adversarial, corruption-free and predictable policy regime has greatly buoyed investor sentiments. Strong action to pass critical bills  through Parliament, rapid rollout of campaigns for financial inclusion, social security and direct transfer of subsidies, initiatives in power, coal and mining sectors and so many other areas have imparted huge credibility to the Government.” 

The CII release said that empowerment of State governments with more policy flexibility and revenues would enable tailored policies according to diverse resources. Prime Minister Modi’s personal interventions to attract FDI are resulting in concrete projects and outcomes. A wide range of quick reforms across sectors has been initiated and would hasten the growth forces for incomes and employment for all sections of society. There are clear signs of recovery and India is already the fastest growing large economy in the world. 

The CII President went on to say “the Government’s emphasis on lower tax rates and introduction of GST in coming years will greatly enhance competitiveness of the Indian Industry. CII believes that India’s GDP can grow at 9-10 per cent in the medium term with such a multi-pronged reform strategy. CII looks forward with hope and excitement to continuing initiatives which will propel fresh investments from public, private and overseas sources and set India on a high-growth trajectory.” 

New Delhi
22nd May 2015

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