SME Times News Bureau | 07 Jul, 2012
India Inc Friday welcomed Prime Minister Manmohan Singh's promised
action on several fronts to restore investor confidence, including
clarity on tax matters.
"This is an opportune time to undertake
financial sector reforms aimed at intermediating household savings to
financial instruments that could be used for productive investments,"
said Confederation of Indian Industry (CII) Director General Chandrajit
Banerjee.
Prime Minister manmohan Singh in an exclusive e-mail
interview to a national daily Friday listed five areas as his priority
in the short run to keep the India story going.
Another industry
lobby, the Federation of Indian Chambers of Commerce and Industry
(Ficci), also welcomed the Prime Minister's assertions that the
government is focusing on reining in the fiscal deficit and attracting
investments.
"Prime Minister's statement on cutting down
infructuous procedures and reducing the time taken by the government to
respond to business proposals will surely go a long way in erasing the
impression that there is policy paralysis," said R.V. Kanoria,
president, Ficci.
The Associated Chambers of Commerce and
Industry of India(ASSOCHAM) suggested that the Prime Minister's Office
(PMO) should be entrusted with the responsibility of monitoring the
implementation of projects within a time frame.
