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Modi govt’s 100 days: More hits than misses, say experts

Experts feel the new government has been successful in breaking the decision-making gridlock and rebuilding the sense of confidence.

Initiatives to increase FDI cap in Defence and insurance changed the mood.

Sunil Munjal

Joint MD

Hero Moto

The Narendra Modi-led NDA government is nearing completion of 100 days in power. Though skeptics are dismissing everything that has happened over the past 3 months as ‘no better than the previous government’ due to lack of ‘tangible’ outcomes on the economic front, there are some who believe that decision making has improved immensely and issues are being tackled head on.

The key economic highlights of the government include scrapping of the Planning Commission, abolition of 21 GoMs and nine EGoMs, ministries and departments were asked to resolve pending issues amongst themselves, hiking the FDI cap in insurance to 49 percent in Budget and a boost to manufacturing via the ‘Make in India’ slogan.

Assessing the hits and the misses, Arvind Virmani, Former Chief Economic Advisor to Finance Ministry, said the new government has been successful in breaking the decision-making gridlock and rebuilding the sense of confidence. “Overall it has been a good three months.”

He however feels that the macro balance needs to be restored. “One of the disappointing things had been that the opportunity was not taken to clear up the budgeting accounting,” he said.

He feels a lot more needs to done on agriculture and said that he was surprised that the issue of land acquisition was taken up so quickly.

Sunil Munjal, Joint Managing Director of Hero MotoCorp , too said that a sense of confidence was the key takeaway in the first 100 days of the Modi government and feels there were more hits than misses in the past three months.

He said the initiatives to increase FDI cap in Defence, insurance changed the mood and more centralisation in decision-making was seen.

He however feels that there should be more clarity on resolving the retro tax cases.

Hero Motocorp stock price

On August 27, 2014, at 10:32 hrs Hero Motocorp was quoting at Rs 2561.80, down Rs 1.95, or 0.08 percent. The 52-week high of the share was Rs 2775.05 and the 52-week low was Rs 1862.10.


The company’s trailing 12-month (TTM) EPS was at Rs 106.33 per share as per the quarter ended June 2014. The stock’s price-to-earnings (P/E) ratio was 24.09. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 9.14.

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