Narendra Modi loses patience finally, tells India Inc to take it or leave it

New Delhi: In a terse message to the industry, Prime Minister Narendra Modi has accused the private sector of still being stuck with “legacy issues” like tax terrorism and selective exemption and said that “red tape” can’t be removed only for Mukesh Ambani and not for a common man. He also said his “job is not to spoon-feed anyone” and the industry can come on board if it fits into the government’s policies or else stay where they are.

Stressing that his government is working for the common man and his priority is the poor of the country, Narendra Modi said in an interview to a newspaper that the industry has to come forward to take the benefits of the process that has been set in motion for good governance. “My job is not to spoon-feed anyone. The private sector is still stuck with legacy issues of governance — tax terrorism, duty inversion and selective exemption. That is why we tried to address many such issues during the Budget of 2015-16 and to correct them across the board. We know that such steps are important for creating jobs and opportunities for millions of Indians. I repeat my assurance to all: If you take one step; we will walk two steps for you,” added more.

He was replying to a question on the business community being upset that not much has changed in terms of ease of doing business and about a spate of tax notices, which have been recently issued to a large number of foreign investors.

His comments assume significance in the wake of eminent banker Deepak Parekh having said recently that not much had changed on ground in the first nine months of his government and there was little improvement on ‘ease of doing business’. Similar comments have been made by some other industry leaders as well, including Harsh Mariwala (CMD of consumer goods firm Marico) who tweeted earlier this week that “sheen is falling of Modi government in the context of promises, and gradual delivery. Need to move fast.”