Kiran Majumdar Shaw, CMD, Biocon
PM gave a very cogent explanation of the urgency for reforms. He reached out to the people to explain how he can't afford India to reach a situation like some European countries where people are losing their jobs. I wish he had done this earlier. We can't have a prime minister who keep large periods of silence.
Adi Godrej, Chairman of Godrej Group and president of CII
A very balanced address… he clearly explained that these steps were very necessary. His comparison with 1991 was very apt.
I'm impressed with the action last week and today's speech; the government has good support.
Mamata's pullout may strengthen the government – the stock market went up and the rupee appreciated.
A stronger rupee will lead to lower inflation.
Jay Shankar, economist and political strategist
There is very little that the Prime Minister has to connect with the people… they don't know or understand great economic terminologies like fiscal deficit. He should speak to the people more often.
In a typical democracy like India, regional parties have become strong and they determine how reforms should be implemented. Strong leadership is required.
Madan Sabnavis, chief economist, Care Ratings
The government should rethink its decision taken on subsidy. The PM spoke very good economics but was not convincing. It is not a precarious situation like in 1991, India is not the only country with a high fiscal deficit.
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