India Inc finds few surprises in CMP8230;

With the Common Minimum Programme CMP on expected lines, corporate India also reacted in the same vein. While the agenda, as set out in th...

With the Common Minimum Programme CMP on expected lines, corporate India also reacted in the same vein. While the agenda, as set out in the CMP, on the vital issues concerning governance and the economy have been broadly welcomed, industry honchos have expressed disappointment at the virtual no-no to labour reforms as well as the lack of clarity on disinvestment. AM Naik, CMD, Larsen 038; Toubro, said,8216;8216;it appears that there can be slowdown in the privatisation process of even loss-making PSUs as well as the most vitally needed labour reforms.8217;8217;

Most corporates, however, agreed that the CMP was on the same lines as expected.

8216;8216;It8217;s a reasonable CMP and I don8217;t have much disagreement with it. Inspite of the political compulsions, reforms will continue. They say reforms will have a human face and it has to be that way, 8217;8217; said Adi Godrej, chairman, Godrej Group. Godrej expressed hope that the FDI slated to come in hi-tech areas will also reach other areas, not mentioned. 8216;8216;I feel that the 8 to 9 per cent growth rate envisaged is achievable. In fact they should have said greater than eight per cent, because last year itself it was nine per cent. With reforms and good agriculture numbers higher than that are possible.8217;8217;

Tata Steel vice-president finance RC Nandrajog echoed almost similar sentiments when he said, 8216;8216;There are not many surprises in the CMP,8217;8217; but added, 8216;8216;I feel that there are a few goods things in the programme. State funding of elections is good as this will bring in transparency, no federal deficit by 2009 is another positive sign, if the government is able to bring in the implementation of VAT, it will be a good thing. I also feel that selective privatisation of PSUs and subsidiaries to be revamped are also two other positive features of the CMP. A negative thing is the labour reforms which, one has to see what is the government8217;s idea on the subject.8217;8217;