Economic agendas of Cong, Bharatiya Janata Party similar: Naina Lal Kidwai

Express news service Posted online: Wednesday, Jan 15, 2014 at 0000 hrs
Gandhinagar : Stating that 'fractured poll verdicts' were hurting India's economic growth, Naina Lal Kidwai, country head of HSBC India and immediate past-president of Ficci on Wednesday said the economic agendas of both the Bharatiya Janata Party (BJP) and Congress parties are similar.

"The economic agendas of both these parties are very similar.... There is no difference in the amount of growth, manufacturing, jobs, creation of skilled manpower, etc," said Kidwai on the sidelines of the National Executive Committee meeting of Ficci (Federation of Indian Chambers of Commerce and Industry) at Gandhinagar.

"There is some disagreement on GST (Goods and Services Tax). Even on this issue, there is more congruence. The difference between the two is more in the sense of timing," she said.

"We have seen that there is a terrible slowdown in implementation in this current government. All of it does not have do with one party. It is to do with coalition government that finds it difficult to function.... What is hurting India is a democratic process that throws up fractured verdicts. This is not in anybody's control. That is what slows the (economic) process," Kidwai added.

Members of the Ficci also expressed concern about the emergence of a third force in the political arena of the country after the Delhi assembly polls. Ficci President Sidharth Birla said that the initial steps by the new government in Delhi was a move towards increasing the subsidy burden of the government. "It is not a comfortable move," said Birla.

"The country is not at a stage for any experimentation. We cannot afford to experiment (with the political process). People should understand that it will not be proper to decide the future of the nation on the basis of "romance" with any party, Birla said commenting on the AAP.

Without naming the Aam Aadmi Party (AAP), some of the members of the Ficci said that they were 'disturbed' by the recent political developments in Delhi and wanted to know from Gujarat chief minister Narendra Modi, present at the meet, if any steps have being taken to make the 'people aware' of the need for a stable government. However, Modi did not offer a reply.