New Delhi: Assocham on Wednesday said Prime Minister Narendra Modi with the Cabinet reshuffle has conveyed a strong resolve to put a premium on performance of his colleagues to improve quality of governance.
The industry body said India Inc is "quite enthused" by the strong leadership quality of Prime Minister at a time when the country is grappling with global headwinds and geo-political risks from terrorism, political upheavals in Britain and the European Union and mood swings in the US in the run-up to the Presidential elections.
"As the NDA Government is about to reach a half-way mark, the Cabinet reshuffle along with other initiatives like the recent textile package, liberalisation in FDI rules would counter those who thought Narendra Modi Government may not be able to pursue the pace of reforms and decision making in the second part of its innings.
"If 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," Assocham Secretary DS Rawat said.
Assocham said it expects several new measures and decisions in the coming days and weeks, including announcement of new the RBI Governor to further boost investor confidence in the Indian economy.
"Favourable weather conditions alongwith clear cut policy framework can make a lot of difference. The things are beginning to happen in infrastructure space , particularly in road and highway sectors. Hopefully, the manufacturing too would see better days ahead," the chamber said.
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