BJP Chief raps India Inc for their negative attitude
Barely a fortnight after India's dismal growth figures were released, Bharatiya Janata Party (BJP) chief Amit Shah, speaking at a Federation of Indian Chambers of Commerce and Industry (FICCI) event, said that industry majors should stop complaining about the reforms that are being undertaken by the NDA government Instead, they should take part in India's growth story, Shah said. Here's more.
As per data, the growth of Indian economy slumped to a three-year low in the April-June quarter. Gross domestic product (GDP) grew merely 5.7% during the latest quarter, while in the preceding quarter it was 6.1% and in the same period, last fiscal 7.9% GDP growth was witnessed. The previous low was 4.6%, which was noticed in January-March 2014.
Amit Shah said, "FICCI's job is not only to bring forward complaints but also to make suggestions about how to augment India's brand value." Instead of cribbing, the industry should start to introspect on how it can improve its research and development to manufacture items, such as solar cell phones, so that, India's reliance on imports can be reduced, he said.
Praising the government, he said, "Earlier, there were 17 different taxes, not all of which allowed input tax credit." He also mentioned the benefits of note ban. "We believe demonetization has made the formal economy much larger," he further added.
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