'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
India said said that rolling back of fiscal and monetary stimulus packages, injected by the government to counter the effects of economic downturn, at this stage would be "counter-productive and disastrous to the industry."
India Inc on Friday said that the completion of the bidding process for scam-tainted Satyam Computer demonstrates the country's strength in dealing with complex corporate issues.
Rajan Bharti Mittal, vice-chairman and managing director of Bharti Enterprises took over as president of Federation of Indian Chambers of Commerce and Industry (FICCI) at the conclusion of its 82nd annual general meeting (AGM).
Captains of the industry, particulary the outgoing chairman of Federation of Indian Chambers of Commerce of Industry Harsh Pati Singhania, who is also the managing director of JK Paper Mill, hailed the Union Budget.
"It is heartening to note that the RBI has chosen growth over monetary tightening and inflationary fears," FICCI president Harsh Pati Singhania said.
Corporate India on Monday warned the government that any regulation of CEOs' pay may lead to flight of talent and capital from the country and said salaries are best decided by the industry.
Amid the raging debate over high CEO salaries, industry chamber Ficci's President Harsh Pati Singhania said if talent is to be attracted one has to pay for it and that in most cases they are "within limits".
Aam Aadmi Party swept the Delhi polls with 67 seats.
Stating that India's consolidated deficit is the highest among the G20 nations, Gopinath added it is important for India to undertake reforms.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
Besides the manufacturing industry, voices in favouring the need for protectionism have also been heard from local start-ups, which at times find it tough to compete with global players that entered India with deep pockets.
'GST will bring in much needed transparency and higher investments in the coming years and we hope that a few percentage points to India's GDP.'
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