ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Web Stories
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Samco Acers
  • Samco Mission Ace The Index
  • Real Estate
    • Home Buyers
    • Builders
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » India News

Trust between govt, business community has eroded, says Manmohan Singh

There is a need to create an intellectual atmosphere that abets industriousness, innovation and imagination among the business community, he said, adding that the society, the government and the business stand to benefit from conditions of trust, lawfulness and fairness.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Trust between govt, business community has eroded, says Manmohan Singh
He also said it is vital to prepare all stakeholders for the coming change because changes produce some disruption, some pain and considerable discomfort. Image source: PTI

Slamming what he termed as the "wrath of coercive agencies" on the business community, former prime minister Manmohan Singh Friday said trust between the government and businesses has eroded and a hostile narrative has been built that will hurt the economy. Speaking at Hindu Business Line's award event, Singh without taking any names said there was no room for authoritarian impositions after the country opted for a democratic path for itself. 

"Of late, many negative perceptions have been manufactured about business leaders; the business community, big and small, has been made to feel the wrath of coercive agencies," he said. "A hostile narrative has been built; this will sap not only the confidence of our own business leaders, it will also create doubts in the mind of foreign governments and business leaders.

"Honest businessman and genuine entrepreneur must never be allowed to feel harassed by the petty revenue officials. Unfortunately, Trust between the government and the business stands eroded," he said without elaborating.

There is a need to create an intellectual atmosphere that abets industriousness, innovation and imagination among the business community, he said, adding that the society, the government and the business stand to benefit from conditions of trust, lawfulness and fairness.

Singh noted that no change is permanent and the country has remained alive to the need for change and has progressed and prospered whenever society recognised and promoted change. "Societies grow and progress when creativity is encouraged to challenge the status quo," he said.

He also said it is vital to prepare all stakeholders for the coming change because changes produce some disruption, some pain and considerable discomfort.

"It becomes, then, the task of the statesman to take the citizens into confidence and explain to them the need for change. It is never easy to make citizens accept deprivation, even temporary," he said.

The former prime minister also talked about the economic reforms that he ushered in 1991, saying "our nation faced a difficult choice then". He, however, noted that even though much had been achieved before 1991 in this land of poverty and deprivation, "but still much more had to be done -- and, done differently".

"We are a young nation but an old society. This old society reflects the strength of our ancient civilization and its traditions.

"Since ancient days we experienced a collective strength and confidence when we remained alive to the need for change; we progressed and prospered whenever we could recognise and promote change, and we moved forward when the society and the administration facilitated the work of the potential change-makers," he said.

Watch this Zee Business video

Singh presented award of changemaker of the year to the GST Council and the award was received by Finance Minister Arun Jaitley. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Manmohan Singh
Written By: PTI
Updated: Fri, Mar 15, 2019
09:52 pm
New Delhi, PTI
RELATED NEWS
Mulayam Singh Yadav death: PM Modi, Yogi Adityanath, other leaders pay tributes to veteran leader - who said what | LIST Mulayam Singh Yadav death: PM Modi, Yogi Adityanath, other leaders pay tributes to veteran leader - who said what | LIST
Manmohan Singh Birthday: Meet the economic reformer and former Prime Minister - 10 points Manmohan Singh Birthday: Meet the economic reformer and former Prime Minister - 10 points
President Election 2022: Manmohan Singh, Mulayam Singh Yadav arrive in wheelchair to cast vote President Election 2022: Manmohan Singh, Mulayam Singh Yadav arrive in wheelchair to cast vote
Former PM Manmohan Singh tests positive for Covid-19, admitted to AIIMS Delhi Former PM Manmohan Singh tests positive for Covid-19, admitted to AIIMS Delhi
Manmohan Singh flays Modi govt, says jobless growth, rural indebtedness have made youths restless Manmohan Singh flays Modi govt, says jobless growth, rural indebtedness have made youths restless

LATEST NEWS

FIRST TRADE: Sensex up 100 pts, Nifty above 16,650; Indian Energy Exchange sinks 10%

From global cues to monsoon update: 10 things to know before market opens today

IND vs AUS WTC Final, Day 3 FREE Live Streaming: When and Where to watch India vs Australia Live Streaming online, Apps and TV Channel details

Maruti Suzuki launches Alto K10-based Tour H1 in India - Check ex-showroom price, features, variant and other details

Ind vs Aus, WTC Final: Ajinkya Rahane offers some fightback to keep India alive

Anil Singhvi strategy June 9: Important levels to track in Nifty, Nifty Bank today

Asian Paints dividend: Paint major's shares go ex-dividend

Gold price today (June 9, 2023): Yellow metal trades flat near Rs 60,000 — check out prices in Mumbai. Delhi and other cities

Aether Industries shares hit all-time high after specialty chemical maker inks pact with Saudi Aramco Tech

No checks and balances? SEBI requires ‘Separation of Powers’

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV