Ahmedabad: The Narendra Modi-led government received appreciation from TVS Motors Ltd Chairman and Managing Director Venu Srinivasan, who lauded it for "its transparency in conducting coal and spectrum auctions".
"I can give many instances (about the NDA government). For example, with transparency coming in and the entire solution for clearances, it is much easier now.
"The coal auction showed the world that India is transparent. The 2G and 3G auction have shown that India is transparent. A significant deal of defence aircraft (Rafale's purchase in France) was done. Defence was in a very bad condition," Srinivasan said.
"I think a lot of action is in the pipeline. I think it would be fair to our Prime Minister and the government to give them a full two years to mend eight years of slide before you judge them," Venugopal said.
"The whole world says India is the best story. It brought confidence into global economic institutions due to the right steps taken with transparency," he noted.
"This is the first full Budget of this government. The last budget was practically like a vote-on-account. I think the government is going the right way, and a year from now, a lot of people would have confidence in the government," he hoped.
Srinivasan spoke to reporters today on the sidelines of the Tamil Nadu government's road show in the city for its forthcoming investors' meet.
"The country's GDP growth for the next year would be at around 7.6-7.7 percent while a year later, it would achieve 8 percent," he predicted.
He painted a grim picture of the rural economy, which is stressed due to unseasonal rains.
"The support price for grains and unseasonal rains are the two major factors behind stress in the rural economy," he pointed out.
He saw a likely slower growth in two-wheeler sales compared with the last year because of the troubled rural economy.
