Opinion poll
National Ceographic
Stability, speed and reforms in labour laws and infrastructure. This is whatcorporate India wants from the government to achieve a high growth rate, says anOutlook-CII CEO Opinion Poll. A big no-no is Leftist interference.
| What have been the most significant reforms that have happened in the past decade? | |
| % | |
| Trade liberalisation | 69 |
| Financial sector reforms | 59 |
| Foreign direct investment | 44 |
| Telecom reforms | 44 |
| Simplification of tax system | 44 |
| FERA liberalisation | 34 |
| End of Licence Raj | 31 |
| Disinvestment | 9 |
| Lower interest rates | 9 |
| Power sector reforms | 6 |
| MRTP abolition | 6 |
| Less bureaucracy | 3 |
| Reforms in land dev./housing | 3 |
| What are the vital areas where reforms have been inadequate? | |
| Labour laws | 56 |
| Infrastructure | 50 |
| Education | 28 |
| Agriculture sector reforms | 25 |
| Power | 25 |
| Corruption | 22 |
| Government expenditure | 16 |
| Bureaucracy | 16 |
| Taxation | 13 |
| Population control 9%, Privatisation 9%, Healthcare 9%, Subsidies 6%, Land reforms 6%, Financial sector reforms 6%, Rural employment 6%, Reduce deficits 6%, Full convertibility 3%, Intellectual property rights 3% | |
| Have economic reforms mainly helped the upper and middle classes? | |
| Yes | 59 |
| No | 41 |
| Yes. But its important to note that before wealth can be distributed, it must earned. | |
| No. Have-nots are not depending on breadcrumbs any more. | |
| Have reforms made a major dent in poverty? | |
| Yes | 56 |
| No | 41 |
| Lack of sustained commitment to reforms is what hurts the poor most. | |
| Now, since wealth is being created, poverty will definitely be affected. | |
| How different is doing business now from how it was 10 years ago? | |
| Easier | 56 |
| Far easier | 38 |
| Still difficult | 6 |
| Its easier...but still far more difficult than any country worth comparing against. | |
| The politician-bureaucrat nexus is still to get its hands out of the till. | |
| Could the reforms have happened far faster in the last 10 years? | |
| Yes | 94 |
| No | 6 |
| We could have achieved the same in seven years. We underperformed by 30%. | |
| Considering our population and complex problems, we couldnt have done it faster. | |
| Are you upbeat about the current regime? | |
| Yes | 56 |
| No | 25 |
| Don't Know | 16 |
| With the Left, this regime in running a three-legged race with blindfolds. | |
| This regime is running like a vehicle with brakes on while accelerating. | |
| What is your outlook on the Indian economy? | |
| Excellent | 16 |
| Good | 72 |
| Not so bad | 9 |
| Don't know | 3 |
| The Indian economy has a far greater potential, but it is performing poorly. | |
| I think we can look forward to a decade of high growth and prosperity. | |
| Which are the sectors that you are most confident will do well over the next decade? | |
| IT and ITES | 47 |
| Automobile and auto components | 31 |
| Tourism | 22 |
| Telecom | 19 |
| Textile and garments | 19 |
| Steel | 19 |
| Cement | 16 |
| Housing | 12 |
| Banking | 12 |
| Pharma | 9 |
| Biotech | 9 |
| Aviation | 9 |
| Healthcare | 6 |
| Infrastructure | 6 |
| Agri-based industries | 6 |
| Chemicals | 6 |
| Light engineering | 3 |
| Insurance | 3 |
| Entertainment | 3 |
| Do you think a stable government is essential for high economic growth? | |
| Yes | 81 |
| No | 19 |
| No. What we need is to delink politics from economics. | |
| Yes, a stable government not influenced by smaller parties is essential for growth. | |
| Are you happy with a government with the Leftists as partners? | |
| Yes | 28 |
| No | 63 |
| Don't Know | 9 |
| They arent anti-reforms per se, but want to be told before any economic moves. | |
| They should visit China and learn, or live in Cuba and let us live. | |
| How many Indian MNCs do you expect to see in 2015? | |
| Less than 50 | 16 |
| 50 to 100 | 32 |
| Between 101 to 500 | 19 |
| More than a thousand | 22 |
| Dont know | 13 |
| How would your sales and profitability be different if a) government policy is liberal reformist, and b) policy aims to appease all influencing parties? | |
| No difference | 9 |
| Up to 5% difference | 25 |
| 5-10% difference | 44 |
| More than 10% | 16 |
| Dont know | 6 |
| Would you agree to having reservations in the private sector? | |
| No | 78 |
| Yes | 6 |
| Don't Know | 16 |
| We should give preferential education to economically weaker sections. | |
| Industry has a responsibility to society. But compulsions wont work. | |
| What will Indias GDP growth rate be in 2015? | |
| GDP growth rate | |
| 10% | 34 |
| 5% | 13 |
| 7-8% | 28 |
| Above 10% | 16 |
| DK/CS | 9 |
| Where do you see India vis-a-vis China in 2015? | |
| China way ahead | 44 |
| India not far behind China | 34 |
| India on par with China | 6 |
| India ahead of China | 6 |
| DK/CS | 9 |
| China will be far ahead as they have a single-minded vision, no Leftist parties(!). | |
| If we can sustain double-digit GDP growth from 2007, well overtake China. | |
| What in your opinion are the biggest bottlenecks to India achieving sustainable 8 per cent GDP growth every year? | |
| Poor Infrastructure | 63 |
| Bureaucracy | 31 |
| Politics | 31 |
| Labour laws | 25 |
| Education | 22 |
| Wasteful government expenditure | 19 |
| Population | 13 |
| Corruption | 13 |
| No thrust on R&D | 6 |
| Interest rates | 6 |
| Agricultural sector reforms | 3 |
| Rural credit and finance | 3 |
| Subsidies | 3 |
| Communists | 3 |
| All figures in percentage | |
