Prime Minister Narendra Modi on Thursday outlined a 10-point vision, which includes increasing investment, completing infrastructure projects in a time-bound manner and using the natural resources to the country's benefit.     

What the experts say?

Ficci president Sidharth Birla: The agenda is ‘action oriented’.  Clarity, certainty and timely implementation of policies are what the industry desires and when translated into action, a sound basis will be set for investments to flow in. Distribution of work to ministers in generating detailed plans sends strong positive signals about the intention of the Cabinet to function as a cohesive group. This will ensure a conducive economic climate.
    
PHD Chamber president Sharad Jaipuria:
The agenda provided by the new government is inspiring and would go a long way to foster strong, stable and inclusive India. We look forward to implementation of 10-point agenda and making India an attractive investment destination for industrialists both domestic and overseas to push India's growth on the high road in coming times. Focus on education, health, water, energy and roads will improve the quality of life and standards of living and improvement in overall human development of the country.

Larsen & Toubro chairman AM Naik:
We are not able to yet see...how the economy will grow but certainly the mood is upbeat. I expect growth to pick up to 5.5 percent this fiscal year. It is likely the infrastructure projects which have been held up for a long time will hopefully begin to move. We will see the impact of it more like in August, September, because it takes time for things to move. There is an all-round change in the mood and the atmosphere. I hope that the government lives up to what is expected by everyone.

Ninety-three percent of CEOs in a poll carried out by one of India's industry chambers FICCI said they expect a substantial improvement in the near-term economic situation following the election of a strong government.

Hopes of an economic revival have attracted copious capital inflows, triggering a rally in the country's financial markets.
For some ebullient investors, this is the beginning of the strongest bull market. The BSE index is already the best performing equity index in Asia this year. The Indian rupee too, has hit an 11-month high to the dollar.

Asia's third-largest economy grew 4.7 percent in 2013-14 fiscal, slower than an official estimate of 4.9 percent and higher than 4.5 percent growth a year earlier. It marks the second straight year of sub-five percent growth - the worst slowdown in more than a quarter of a century.

JPN/Agencies

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