Not enough for us in reforms: India Inc
Tempers frayed between frustrated executives and defensive ministers, and social activists took officials to task on a lack of action from the government, despite a much-trumpeted set of initiatives in response to slowing economic growth.
The mood is a bit sombre, Siddhartha Lal, managing director of Eicher Motors, said at the World Economic Forum (WEF). There is a pressure to force some change.
Suddenly because three laws have been passed everyone is extremely excited. This should be a daily routine affair of passing legislation and making reforms. We should be having hundreds of these a year.
India in September allowed foreign investors into the supermarket sector, increased overseas investment limits in airlines and raised diesel prices in a big bang push designed to perk up subdued business sentiment.
But executives said a long-delayed national taxation regime, a government body to fast-track infrastructure developments and a credible initiative to tackle widespread corruption would provide a far greater boost to the sluggish economy.
India's GDP growth in the current fiscal year that ends in March 2013 is expected to be the worst for a decade, with many corporates blaming a lack of action from a government hamstrung by graft allegations and a lack of political clout.
Hundreds of big ticket infrastructure projects have been hit by delays, hurting investor sentiment. The
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