The Left support to the United Progressive Alliance (UPA) government did not come cheap in the past four years, and many in India Inc feel the new government would press ahead with key liberalisation initiatives that the key ally was vetoing.
The government had proposed a new round of liberalisation initiatives including reforms in banking, pensions, the retail sector and easier labour laws among others. Most of these, however, had hit a roadblock after the Left parties voiced stringent opposition.
JSW Steel vice chairman and president of Assocham Sajjan Jindal described 15th Lok Sabha election results a vote for development and hoped that UPA government will continue its progressive social and economic agenda for inclusive growth and good corporate governance.
JK Paper managing director Harshpati Singhania said the “stage is set for a new wave of reforms as the UPA prepares itself to form the new government.”