Business bats for government

22 July 2008

As he readies himself to face his biggest challenge after four years at the head of the world's most populous democracy, Prime Minister Dr Manmohan Singh can certainly take heart from the confidence shown by the nation's business leaders.

In a survey conducted by apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM), a full 72 per cent of company 400 CEOs from the four metropolitan cities and other large towns such as Hyderabad, Bangalore, Lucknow, Pune, Ahmedabad, Chandigarh, Dehradun, etc. felt that the UPA government would survive the confidence vote today. (Also see: Nuclear-deal debate begins)

"The UPA government will sail through the confidence motion and emerge victorious to hasten its unfinished reforms in areas of pension, insurance, civil aviation and even labour'', was the verdict by 288 of the chief executives surveyed.

Only 112 CEOs were not too confident to conclude that the confidence motion would be taken to a logical conclusion in view of conflicting reports emanating from various political parties, ASOOCHAM said.

Releasing the Survey, the ASSOCHAM president, Sajjan Jindal said that a majority of veteran politicians are with UPA and would be able to persuade even the dissenting voices in the Parliament to vote in favour of the motion.

He further said the majority is optimistic about the government winning the vote of confidence, and argued that since the civil  nuclear agreement with US is in the interest of the nation,  good sense will prevail among a majority of MPs and they would caste their votes in favour of the motion.