Industry body FICCI on November 26 said the monetary policy should be rolled back to 2004 levels to ease the credit flow to the system. Rajeev Chandrasekhar, president of FICCI told reporters that so far inflation was concerned, the monetary policy did not work.He said inflation had come down to due to fall in commodity prices. The FICCI President said to spur growth, the government should adopt a ''big bang'' approach instead of a gradual and calibrated one.
About the national executive meeting held here, Chandrasekhar said the members were of the view that the government view about the current economic scenario was not in sync with reality. He said there were crisis of confidence among the members and an increasing sense of worry. He also criticised the government for not arriving at a solution to the crisis in the country, and suggested that the government should immediately start infrastructure projects to spur growth. Chandrasekhar said the next fiscal year was crucial in determining the future of the coming years.
About the national executive meeting held here, Chandrasekhar said the members were of the view that the government view about the current economic scenario was not in sync with reality. He said there were crisis of confidence among the members and an increasing sense of worry. He also criticised the government for not arriving at a solution to the crisis in the country, and suggested that the government should immediately start infrastructure projects to spur growth. Chandrasekhar said the next fiscal year was crucial in determining the future of the coming years.
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