INDORE: Amidst allegations and counter allegations by political parties in the ongoing election campaign involving big business houses, industry seems upbeat about the next government and hope abounds that it would endeavor to push the economic growth of the country.
Managing director and CEO of Bombay Stock Exchange (BSE) Ashish Kumar Chauhan on Tuesday said during election time political parties level allegations against each other but people make their choices as per their discretion, and this will not have a negative impact on the confidence of industry.
Chauhan, who was in Indore to participate in a conference on 'Ethics and Corporate Governance', organized by The Institute of Company Secretaries of India and BSE, said the new government will face the challenge of managing government finances.
About industry expectations from the government, Chauhan said the next government should give a push to stalled infrastructure projects as that will have the multiplier effect. It will infuse money into the economy, create jobs, increase tax collection, and improve the condition of banks. "Presently, the execution of many projects is pending, which is holding our economy back," he said.
The second biggest challenge for the government will be to check inflation. "Rising prices, particularly food inflation, is the biggest problem the country is facing today," said Chauhan adding that this can be dealt by addressing problems on the supply side.
Another priority of the government should be job creation. "India needs 1.5 cr jobs per annum for the next 20 years to better employ our young population," said Chauhan adding that to achieve this, the foreign policy should also be linked with job creation.
He said that, in the coming year, India can replace China as the world's manufacturing hub. Manufacturing is one sector which can create lots of job, but it should be ensured that policies pertaining to this sector are environment friendly. "We need a robust manufacturing sector," he said.
To make this possible, the government would have to come up with good labour laws and better
SEZ rules, besides, India will have to invest a lot in skill development and retraining existing employee.
Source : timesofindia.indiatimes.com