India Inc hails UPA victory; expects faster reforms | business | Hindustan Times
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India Inc hails UPA victory; expects faster reforms

business Updated: May 16, 2009 14:54 IST

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India Inc welcomed the poll verdict in favour of the UPA, saying the mandate is for a stable government that could pursue the economic reforms faster without worrying about the Left and "hotch-potch" partners.

Apex business chambers and leading industry leaders said the UPA's decisive win was a verdict for the continuity of the Manmohan Singh government.

Noted industrialist and UB group head Vijay Mallaya said victory by the Congress-led coalition "is a vote for stability... UPA need not worry about hotch-potch partners. Congress can clearly pursue ..Its policies without the need to convince the Left".

FICCI President Harsh Pati Singhania said, "The industry is happy that we have a verdict which is clear and not fractured... This will help the government take quick and decisive action."

Happy that stability and continuity has been ensured by outcome of the elections to the 15th Lok Sabha, Singhania said,"Industry is now expecting faster reforms in the areas such as pensions, insurance, banking, education reforms, retail and labour reforms".

There could have been a rethinking on pension and insurance reforms had UPA not returned with a convincing victory, Singhania said.