New Delhi, May 22 (PTI) India Inc today hailed Narendra Modi-led government's performance in past one year, saying the focus on non-adversarial, corruption-free and predictable policy regime has buoyed investor sentiment.

"The government has exceeded our expectations and has achieved more in the first year than any other government has achieved in their first year. The government's emphasis on lower tax rates and introduction of GST in coming year will greatly enhance competitiveness of the Indian industry," CII President Sumit Mazumder said.

The Modi government completes one year in office on May 26.

Ficci President Jyotsna Suri said, "We are highly encouraged by the series of actions and policy reforms taken by the government in the last one year. The government has been successful in improving the state of the economy and setting the foundation for long term higher growth and development.

Several path-breaking measures have been announced, notably the introduction of social security net for all citizens, rationalisation of corporate tax rates and implementation of GST by April next year, Suri said.

"We are confident that going forward too, the Government will maintain the growth momentum through continuous policy and reform actions," the Ficci President said.