Industry body Confederation of Indian Industry (CII), praising the development work taken by the government in last two years has said that in two years the NDA government has strategically navigated the Indian economy to all-round stability. It has undertaken big bang structural reforms, including more power in the hands of states, establishment of NITI Aayog and empowerment of markets.
Chandrajit Banerjee, director general of CII said that for investors, critical achievements of the government relate to inflation control, more public investment in infrastructure, social security, fiscal management and tax administration. Banerjee pointing out the highest ever inflow of FDI at $55 billion in 2015-16 said that the strong emphasis on ease of doing business is delivering results.
CII director-general has also said that “We are optimistic that India’s ease of doing business ranking can rise to among the top 50 from the current 130 within the next two years with sustained micro-level actions.”
Recently, the industry body had said that after two years of government in office now focus should be on building political consensus for passage of long- pending Goods and Services Tax (GST) Bill and on expediting the non-legislative reforms.