Wipro chief blasts indecision, hopes for better govt in 2014

New Delhi, July 26: Indian economy is not in good shape and the government is doing too little and too late. These words are not by any politician from the opposition benches but are the concerns expressed by the country's top industrialist and philanthropist Azim Premji.

Wipro chairman Premji, speaking at the company's annual general meeting (AGM) in Bangalore on Thursday hoped that the country would get a "stable, workable, coalition government" after the 2014 general election.

A coalition government? Premji thinks that a single party coming to power at the Centre is not possible. "It's unlikely there will be anything other than a coalition government. Hope we get a stable, workable, coalition government post the elections," he said.

Premji said the India market was not in good shape. Last year, India's GDP growth touched decade's low of 5 percent. The rupee is falling sharply against the dollar in the past two months. There are serious concerns about the current account deficit.

"Indecision continues, cash flows are choked in major big projects," Premji said. Many infrastructure projects have come to a standstill due to bureaucratic bottlenecks.

Talking about steps the government had taken in recent weeks, Premji said, "It's a case of too little too late."

OneIndia News