India Inc unhappy with Modi Govt’s ‘sluggish reforms’

Right from Swachch Bharat Abhiyaan to Digital India initiative and Make in India campaign, Indians hailed the reform that the Modi government has initiated ever since it came to power. But it seems that business lobby of the country is losing its confidence in the Modi government, which is poised to complete one year later next month. This was revealed in a Times of India report.

According to the news daily, two tweets from Harsh Mariwala, the chairman of Rs 4,600-crore Marico, narrated this story on Tuesday. In the first tweet, Mariwala said that "Sheen is falling of Modi govt in the context of promises, and gradual delivery. Need to move fast, hope interest rates are reduced today." Then, through another tweet he asserted, "Heard from a leading politician that if elections were held today NDA will barely win 200 seats in spite of weak opposition."

It is not just Mariwala who is unhappy with the Modi government, but many other CEOs also come under the group of cheerless leaders. It's said that the conversation in board rooms is changing. According to a TOI report, “Captains of industry are now highlighting two new concerns, albeit in hushed tones - some of the recent notices from the taxmen and the seemingly unchecked Hindutva agenda of certain right wing groups.”

Some of the business leaders are also minutely observing the attacks on churches as well as the fresh spurt of tax notices. They believe this is sending out a wrong signal to investors at a time when the government is striving hard to woo foreign investors, the financial daily stated.
Harsh Goenka, RPG Group chairman, told TOI said that tax demands of such high value would invariably result in increased litigations. "As long as the issues are treated objectively and fairly, it should not worry India Inc. However, as a secular nation, we must avoid any form of fundamentalist activity. Random fascist comments lead to communal disharmony and should be dealt with severely," he said.

A majority of CEOs also agreed that much has happened in the last few months and the Modi government is suffering from the burden of over expectations.