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Reforms will continue, says CII

May 13, 2004 14:58 IST

The Confederation of Indian Industry on Thursday expressed confidence that the economic reforms would continue to be a focal point whichever party forms the next government.

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"We are confident that economic reforms will be the priority of the next government as the election manifestos of both the Bharatiya Janata Party and the Congress were indistinguishable in terms of their economic policies," CII Director General (Designate) N Srinivasan told PTI.

The industry was not "unduly worried" as the macro-economic fundamentals were strong, he said.

The National Democratic Alliance government's track record had been very impressive in terms of economic reforms which were initiated by the Congress, he said.

Asked whether the present trends of election results would give a jolt to economic reforms, he said, "I do not think it is a vote against reforms. The candidates are pro-reform."

"In my view, anti-incumbency seems to be playing a part as has happened earlier. The soaring expectations of the people is also a possible reason for NDA not doing so well."

Giving full marks to the Vajpayee government on the economic front, he said, "The next government will be on a very strong wicket as the economy is doing so well. Whether the JP-led or Congress-led coalition comes to power, the next government will have to ensure that it does not play loose shots."

India Votes 2004

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