New Delhi: As Prime Minister Narendra Modi completes one year in office, he seems to have won the hearts of Corporate India. A poll by CNBC-TV18 reveals that an overwhelming 87 per cent of India's top CEO's believe that the government has been pro-business and pro-development
Other key findings of the survey suggest that 78 per cent businessmen believe that steps taken by the government so far have led or will lead to better investment climate. The poll reflects that the government still enjoys high approval ratings from corporate India.
The two areas where there is some displeasure is maiden budget and a continuation of tax uncertainty. 60 per cent of the respondents believe that the maiden budget presented by Arun Jaitley has "not done enough" to fulfill the promise of heralding a non-adversarial tax regime.
65 per cent of the respondents said they believed that Goods and Service Tax (GST) will be the single biggest measure to put India on the high-growth path.
"Whether it is in power sector or coal or in environment, I don't hear complaints that anything has been held up due to want of decisions and movement. We should give them 10/10 in that layer," Non Executive Vice Chairman Ashok Leyland R Seshasayee said.
"The next layer that deals with policies, we haven't seen this government go all the 9 yards. The right climate would be created if they went up to 76 per cent if not 100 per cent, maybe wisdom to 49 per cent and ferret out all the controversies and objections and then take it at that level. So there is room for improvement. In the legislature layer, we know its a mine field given the situation in the Parliament, we know its not going to be a breeze but I think the courage and commitment is quite evident," Seshasayee added.
The businessmen also said that the government is making modifications to ease the laws to bring in more transparency. "I think is perceived to be a complicated country for coming in to start or continue a business and the inspectorage is a big problem. My interaction with CII and government officials has clearly indicated that the government is going to sort out the complexity of starting a running a business of getting clearances on the course of continuing a business. They have brought modifications, states have actually lowered the number of clearances required by 50 per cent and there are so many fronts where the government is working to ease the laws, simplify them and bring in more transparency," Chairman and Sr MD DCM Shriram Ajay Shriram said.
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