As the Narendra Modi-led government completes two years in office, industry body CII on Thursday said the administration has initiated "big bang" structural reforms like setting up NITI Aayog and devolving more power to states.
"In two years, the NDA government has strategically navigated the Indian economy to all-round stability. It has undertaken big bang structural reforms, including more power in the hands of states, establishment of NITI Aayog and empowerment of markets," CII Director General Chandrajit Banerjee said.
"For investors, critical achievements of the government relate to inflation control, more public investment in infrastructure, social security, fiscal management and tax administration," he added.
The strong emphasis on ease of doing business is delivering results, Banerjee said, pointing out to highest-ever inflow of FDI at $55 billion in 2015-16.