"Support to Indian industry is specifically mentioned in the BJP manifesto but there is no similar statement in the Congress manifesto," Bajaj said at a press conference.

The CII, however, along with two other apex industry bodies Ficci and Assocham, has welcomed the manifestos of both the parties.

Ficci secretary general Amit Mitra told The Financial Express that Ficci was "delighted with the unprecedented focus on economic matters as against petty political issues," in the two parties' manifestoes.

Mitra said this kind of focus would make voters vote on economic and business issues as against narrow sectarian issues.

Assocham president KP Singh said both NDA and Congress need to be complimented for their pledge to tackle the problems facing the Indian economy head on by introducing a fresh wave of economicreforms and creating a climate conducive for growth of equity and investment markets.

Mitra said noteworthy features in the manifestoes of both the parties were their keenness to introduce second generation reforms and focus on employment generation.

Mitra and Bajaj welcomed both the manifestoes' for mentioning the problem of fiscal deficit and stressing the need to control expenditure. Bajaj said the Congress statement on reducing the fiscal deficit to four per cent was acceptable to CII. Bajaj said he was happy that both Congress and NDA had mentioned about the need to review the labour laws as well as reservations.

Mitra, however, said that Ficci was disappointed that the key issue of no-objection certificates required be taken by foreign companies from their existing Indian partners if they wish to start a new venture or a wholly owned subsidiary had not found a mention in the manifestoes of both Congress and NDA. He said it was a very important issue to safeguard Indian industry against unfaircompetition from foreign companies.

Mitra said overall the manifestoes were "very constructive" and show that a political consensus has emerged on the issue of controlling expenditure. The Congress has even suggested setting up of an Expenditure Management Committee.

According to Mitra, "Populist political experiment seems to be now under control with a more mature practice on governance."