The Federation of Indian Chambers of Commerce and Industry (FICCI) on July 25 given a report to the Prime Minister, Dr Manmohan Singh that suggested an agenda for the Government for the next 100 days. The chamber asked him to stimulate investments, restore business confidence in the economy and address the perception of a looming fiscal crisis.
The elaboration of the Indian economy over the last four years has been on the back of increasing investment flows and rising investment to GDP ratio. The chamber presented a broad spectrum of measures to encourage investments in infrastructure, stabilise the policy framework for SEZs, finalize a comprehensive demand moderation strategy based on market forces and grant industry status to the retail sector.
FICCI suggested a series of policy reforms comprising changes in the priority sector lending norms for banks to favour investment by corporates in the agri market, construction of warehouses, cold chain transportation, allow private sector that invests in agri infrastructure to be eligible for 150 per cent weighted deduction with regards to investment in R&D.
The elaboration of the Indian economy over the last four years has been on the back of increasing investment flows and rising investment to GDP ratio. The chamber presented a broad spectrum of measures to encourage investments in infrastructure, stabilise the policy framework for SEZs, finalize a comprehensive demand moderation strategy based on market forces and grant industry status to the retail sector.
FICCI suggested a series of policy reforms comprising changes in the priority sector lending norms for banks to favour investment by corporates in the agri market, construction of warehouses, cold chain transportation, allow private sector that invests in agri infrastructure to be eligible for 150 per cent weighted deduction with regards to investment in R&D.
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