 "Prime Minister Narendra Modi is greeted by the newly sworn-in ministers as he leaves after the swearing-in ceremony at Rashtrapati Bhavan in New Delhi. Photo: PTI")
The Cabinet reshuffle on Wednesday provided the right emphasis on performance and sent out a clear message that needless controversies would not be tolerated, CEOs said. CEO is chief executive officer.
"Prime Minister Narendra Modi has rewarded those who stayed out of controversies and those who believe in teamwork," said Harsh Goenka, chairman of the RPG Group. "Another interesting aspect of the reshuffle was it had the stamp of (BJP or Bharatiya Janata Party president) Amit Shah all over it," he added.
Biocon Chairman Kiran Mazumdar-Shaw said moving Jayant Sinha from finance to civil aviation was unexpected. Others said Modi was looking at the big picture — of upgrading government service delivery by bringing in fresh faces in ministries like rural development and agriculture.
"Almost 40 per cent of Modi's tenure is over and with elections in key states due in a few months, it will soon be time for the government to showcase its success stories. The government should work on passing the Goods and Services Tax Bill and roll out the tax by next year," said the promoter of a large company, asking not to be named.
CEOs said they were surprised ministers like Piyush Goyal and Dharmendra Pradhan were not promoted to Cabinet ranks, despite their good work in the past two years. They are still MoS or ministers of state (independent charge) after the Cabinet reshuffle. Smriti Irani's movement did not come as a surprise; in a survey by this newspaper of 50 CEOs, she received the highest votes for non-performance.
"Prime Minister Narendra Modi has rewarded those who stayed out of controversies and those who believe in teamwork," said Harsh Goenka, chairman of the RPG Group. "Another interesting aspect of the reshuffle was it had the stamp of (BJP or Bharatiya Janata Party president) Amit Shah all over it," he added.
Biocon Chairman Kiran Mazumdar-Shaw said moving Jayant Sinha from finance to civil aviation was unexpected. Others said Modi was looking at the big picture — of upgrading government service delivery by bringing in fresh faces in ministries like rural development and agriculture.
"Almost 40 per cent of Modi's tenure is over and with elections in key states due in a few months, it will soon be time for the government to showcase its success stories. The government should work on passing the Goods and Services Tax Bill and roll out the tax by next year," said the promoter of a large company, asking not to be named.
CEOs said they were surprised ministers like Piyush Goyal and Dharmendra Pradhan were not promoted to Cabinet ranks, despite their good work in the past two years. They are still MoS or ministers of state (independent charge) after the Cabinet reshuffle. Smriti Irani's movement did not come as a surprise; in a survey by this newspaper of 50 CEOs, she received the highest votes for non-performance.
In the coming months, the government should work on reviving the investment climate, India Inc said. Capital expenditure in manufacturing is expected to pick up next year as companies grapple with idle capacity. Fund-raising by companies through bonds has dropped 25 per cent in the first half of 2016.
