New Delhi: After the World Bank cut India's growth forecast to 6.9 per cent in 2012-2013, India Inc leaders have expressed concern over the political situation in the country.
Wipro Chairman Azim Premji said, 'We are working without a leader as a country. If we do not change, we would be down for years.'
The World Bank has cut India's growth forecast to 6.9 percent in 2012-2013 citing monetary policies, stalled reforms, electricity shortages along with fiscal, inflation concerns.
Infosys founder Narayana Murthy too has said that he feels sad about the state of affairs in the economy. In an interview to Morgan Stanley Research, he says, "There was huge expectation. There was a lot of confidence that India would indeed do whatever was necessary because the person who was the face of economic reforms in 1991 is our current Prime Minister. In the opinion of foreign well-wishers of India, we have reached our nadir since 1991," he said.
The World Bank has cautioned that policy uncertainties and fiscal deficits, continued inflation, and infrastructure gaps will have a negative impact on investment activity.