Government's agenda is insightful, praiseworthy: India Inc

The agenda of the new government chalked out by President Pranab Mukherjee in Parliament is insightful and praiseworthy, India Inc said.

"President today has laid out an insightful and aspirational vision for the country, bolstered by comprehensive and multi-dimensional measures aimed at reining in inflation, boosting agricultural productivity and kick-starting the investment cycle," CII President Ajay Shriram said.

Introduction of GST, ease of doing business and single-window clearance of projects through hub-and-spoke system of central and state government coordination are indeed very welcome announcements, he added.

FICCI said the chamber is delighted to note government's commitment towards achievement of high economic growth, with equity and human development.

The government's commitment towards large-scale job creation, through promotion of labour intensive manufacturing, agro-based industries and tourism is noteworthy.

"We hope the government will soon devise a national agenda for job creation across sectors and regions, essential for social development and stability. The government's road map for strengthening social, civic and physical infrastructure is praiseworthy," said FICCI President Sidharth Birla.

The President's speech outlined the Narendra Modi government's priorities that include steps to tackle communal violence, eliminate corruption, rein in inflation and encourage investment including through Foreign Direct Investment.

Realty sector's apex body Confederation of Real Estate Developers' Association of India (CREDAI) welcomed Prime Minister Narendra Modi's focus on urban infrastructure and single window clearance for projects, but maintained that implementation would be critical.

"We appreciated the government's focus on both infrastructure and real estate sectors. The real estate sector for long has been requesting the government for simplifying the clearances and showcase the single window system for the states to follow," CREDAI Chairman Lalit Kumar Jain said in a release issues in Mumbai.

Jain said the resolve to build 100 cities with world class amenities and integrated infrastructure as well as plans to develop several freight corridors were also praiseworthy.

However, he expressed hope that these promises would result in "action" soon, since both the sectors were badly hit by the previous government's policy paralysis and red-tapism.

"We sincerely hope that all these welcome steps will be implemented with adequate fund allocations in the new union budget," he said.