India Inc calls for implementation of economic reforms

India Inc calls for implementation of economic reforms

Last Updated: Thursday, March 15, 2012, 17:38
Comments 0  
India Inc calls for implementation of economic reforms New Delhi: Expecting a GDP growth of about 7 percent in 2012-13, India Inc Thursday called for implementation of economic reforms and fiscal consolidation.

"Domestic factors are more important for India's GDP growth and global conditions play only a marginal role. Therefore, greater attention is needed on implementing reforms," Ficci Secretary General Rajiv Kumar said.

The chamber expects that the GDP growth in 2012-13 would be around 7 percent.

Echoing similar views, CII said concerted actions are required for fiscal consolidation and further policy reforms that would unlock the growth potential of Indian industry are needed.

CII feels that the growth outlook for the next fiscal could be better if fiscal consolidation is given high priority along with reforms on land acquisition, taxation,

"We hope the Union Budget 2012-13 would provide a direction in this regard," it said.

Assocham said the Economic Survey shows that the long-term India growth story remains intact despite the present economic challenges.

"The return to high growth looks achievable in view of strong basic fundamentals of the economy," it said, adding, "The country needs immediate financial and structural reforms to boost the falling business confidence and growth momentum".

First Published: Thursday, March 15, 2012, 17:38
Post Your Comment
 Your comment(s) on this article
The views represented here are not neccesarily endorsed by and its allied websites. All messages will be moderated and no message that has inflammatory, abusive, derogatory language or any language deemed unfit for publication by the editor will be displayed. Though it will be endeavoured that as many messages as possible be displayed, there will be time lag between the submission and publication of the messages. The website reserves the right to publish or reject any message.

latest videos  
Q&A With fm Read More »
Budget will provide breather to aam aadmi: Pranab

FM expressed confidence that the policy road map prescribed in the Budget will steer the course of the economy.

opinion poll
Will the Budget be able to solve India`s deficit woes?
zee exclusive Read More »
A survivor’s Budget, at best!

As Pranab Mukherjee read out his Budget speech the politician in him was right up front.

Education not a priority in the Budget 2012-13 Union Budget 2012: What does it offer to women?
Food security still a distant dream Measly spending on major social sectors
Budget Plus