The former Union minister also said PM Modi has shown that a leader becomes great not by his power but by his commitment and conviction to empower people.
Asserting that reforms are an ongoing process, he assured investors at a function here that the government will continue them to make India an attractive investment destination and a better place to do business.
Prime Property discussed the property market with the Finance Minister Arun Jaitley; the show puts spotlight on Noida, nearly 55,000 ready to move in flats are donning a deserted look and thousands of home buyers suffering from a ban from the green tribunal NGT that has followed by policy paralysis at the Union Environment Ministry.
Congress-led UPA government had three power centres-- the then prime minister Manmohan Singh, Congress chief Sonia Gandhi and her son Rahul Gandhi, which created confusion and policy paralysis, BJP president Amit Shah said while launching a tirade against the previous regime.
Deepak Parekh said the industry is still optimistic about the changes it expects from the Modi government, but optimism is not translating into revenues and there has been little improvement on 'ease of doing business' front so far.
Officers of the central government now arrive for work at Shastri Bhawan in New Delhi at 9 am sharp every day. Coming in late for work is out of the question especially when your boss can check on you any time.
Amit Bhartia, GMO, feels the country can easily go back to 3-4 percent growth because of lack of stability. However, he is quick to add that the nation can grow 7-10 percent if policymakers do their job right.
A topic that has perhaps been on everybody‘s mind is whether For Profit institutions should be permitted at all levels – more importantly in the education sector. Madhav Chavan, activist and founder President of Pratham says "It is not a question of permitting, we have already permitted now it is a matter of legalizing it."
Madhu Kela sees this market as a bottom-up one, in which investors will have to focus on companies. He expects economic growth to remain challenged and sees contracting balance sheets reflecting in weak growth for many companies.
Adrian Mowat of JPMorgan says earnings delivery by Indian companies has been much better than most emerging markets. He is overweight on IT, mining and bank stocks.
Net foreign investment by India to the rest of the world stood at USD 952 million in the first half of the current fiscal, which is far less than USD 3.4 billion in the same period last year, an Assocham study said.
Policy inaction in the last three-four years has affected all balance sheets whether it is the government balance sheet, corporate or household, all have come under huge attack . The long-term India story is hurt because of the currency, the way it is moving is being questioned not only by foreigners, but also by local investors.
Attacking the UPA government for the economic slowdown, Gujarat chief minister Narendra Modi on Wednesday alleged lack of leadership and policy paralysis are responsible for the state of the economy.
Gujarat Chief Minister Narendra Modi on Tuesday said the central government was engulfed by policy paralysis and it was on "borrowed time".
Deepak Parekh, chairman, HDFC, has warned that a downgrade was likely if the current environment of policy paralysis persisted. "If downgraded to junk status, we will see substantial outflows," he said in an interview to CNBC-TV18.
The tides are turning, and experts say this is the best time to step in to the stock market to enjoy good returns.
Ajay Srivastava, CEO of Dimensions Consulting, says that the strategy right now is to be sector-specific because there are several pockets outperforming the market.
The number of news media references about "policy paralysis" in India has surged, hitting 590 mentions in June as of Wednesday, the highest this year, according to a news search conducted via Factiva.
Dismal Q4 GDP numbers of 5.3% were announced on Thursday and the GDP for FY12 stood at 6.5%. In an interview with CNBC-TV18, Leif Eskesen, Chief Economist for ASEAN and India, HSBC said policy paralysis in India is not new and its effects are just being felt now.
Southeast Asian nations are swallowing an outflow of money from India, as foreign investors lose patience with its policy paralysis and slowing growth.
Despite the policy paralysis and political turmoil in the country, Richard Titherington of JPMorgan believes it is valuations that are working against Indian equities.
After three years of speculating a possible exit from Mphasis, Baring PE clears says that they are confident about the company despite the challenges reports Kritika Saxena of CNBC-TV18.
India's economy is exposed to an extended euro zone crisis and policy paralysis at home, while the coalition government is under tremendous strain from scandals and rebellious coalition partners.
Another round of talks between the government and industry is set to take place, with top corporate heads meeting Prime Minister Manmohan Singh later in the evening.
Amid fears of policy paralysis and a widening fiscal deficit, a heightened political rift is the last thing Indian investors bargained for. The market today went into a tizzy, closing nearly 400 points down, quite contrary to the firming trend in Europe ahead of the EU Summit.