Suresh Soni, CEO, DHFL Pramerica Asset Managers, shares his views on the performance of the government as it completes its halfway mark of being in power.
Subscribe to Outlook Money for more: https://goo.gl/jHD2AA
#SureshSoni #Money #OutlookMoney #OutlookMagazine #OutlookGroup #OLMInteraction #ModiGovernment
Subscribe to Outlook Money for more: https://goo.gl/jHD2AA
#SureshSoni #Money #OutlookMoney #OutlookMagazine #OutlookGroup #OLMInteraction #ModiGovernment
Category
đź—ž
NewsTranscript
00:00 I think the government has, in the first two and a half years, has taken a number of measures
00:16 to not only change the face of the economy in short term, but a lot of those steps are
00:22 far reaching and long term oriented.
00:24 For example, the recent implementation or rather passing of GST bill promises to be
00:29 a very positive long term step, which would not only lead to ease of business, but would
00:35 also lead to an increased transparency across the system, and hopefully would also bring
00:42 more industries under the tax net, more income under the tax net, and therefore lead to an
00:47 expansion of GDP itself.
00:48 Similarly, there have been a number of initiatives on easing the policy, let's say in terms of
00:55 coal block auctions, or for example, the amount of commitment that we see in the roads or
01:01 the infrastructure sector.
01:02 Overall, the developments are quite positive.
01:05 We have also seen, not only on the economic front, but also on the international front,
01:10 on the foreign policy front, in a number of areas, some serious initiatives taken by government
01:17 in terms of the cleaning up of the banking sector and stuff.
01:20 I think the overall impact is far reaching.
01:24 It's all medium term oriented.
01:27 The good part, I would say, is that from an expectation management, while initially when
01:33 the government won the mandate in 2014, there was a bit of a euphoria of expectations to
01:39 start with.
01:40 I would say now the expectations are probably a lot more grounded.
01:44 You do understand that it's not a sprint of 100 meters, but it's more a marathon which
01:50 requires a lot of preparation, a lot of work, and delivers you good growth over a long term.
01:56 So I think the movement so far has been in the right direction, and we should expect
02:01 the current, let's say, initiatives which are being taken to lead to much stronger,
02:07 sustainable growth over a long period of time.
02:10 [Music]