Key economy-related quotes on Left withdrawing support

July 8th, 2008 - 8:49 pm ICT by IANS  

New Delhi, July 8(IANS) The following are some key quotes from India Inc. and economists following the Left parties’ withdrawal of support to the coalition government: -Rajeev Chandrasekhar, president, Federation of Indian Chambers of Commerce and Industry (Ficci): “Ficci is concerned about declining business confidence in the economy, and is extremely worried about any deficit in governance emerging out of political conflict.”

-D.S. Rawat, secretary general, Associated Chambers of Commerce and Industry (Assocham): “For long, there has been a hide-and-seek game going on between the Left parties. The economic reforms will re-commence.”

-D.H. Pai Panandikar, corporate analyst and director of RPG Foundation think-tank: “Left leaders were creating hurdles in implementing some decisions like foreign direct investment in insurance sector. The government can now think of opening up the insurance sector.”

-Dalip Kumar, senior economist with the National Council of Applied Economic Research (NCAER): “The Left leaders were never creative in their approach about issues of national importance. They were acting more as activists than responsible coalition partners.”

-K.K. Navada, Bengal National Chamber of Commerce and Industry president: “The Left had stalled a number of bills. Also, the reforms agenda can now be pushed through.”

-S. Shashikanth, president (manpower) at Subhiksha retail chain: “Chances of the government allowing 100 percent foreign investment in multi-brand retail are rather bleak.”

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