A recent ASSOCHAM-EY report suggests that the government needs to continuously invest in improving the ease of doing business environment, develop sound infrastructure, and ensure availability of trained workforce as India is set on a growth trajectory that promises all-round development, economic welfare and strong macro-economic indicators.
"Improved governance, favourable conditions to conduct business, transparency in government procedures and responsive policy making with an immediate focus on effective implementation of government reforms will continue to evolve India into a preferred destination for foreign investment," highlighted the report titled ‘India: Transforming through radical reforms,' jointly conducted by ASSOCHAM and global advisory firm Ernst & Young (EY).
It also termed demonetisation as a major step aimed at strengthening India's proposition of becoming a transparent economy by curbing black money, terror financing and fake currency circulating in the economy.
"Combining demonetisation with Digital India and Pradhan Mantri Jan Dhan Yojna will ensure transparency in financial transactions. Transfer of subsidies through bank accounts opened under the scheme has removed the middlemen, thus eliminating one of the biggest contributors to corruption," said the ASSOCHAM-EY report.
(Continued on next page)