New Delhi: Business chamber FICCI on Wednesday said high level of investment as projected by Prime Minister's Economic Advisory Council is critical for economic growth, but the government must offers sops to industry to encourage investment.
"...to sustain such a level of investment the government must come out with some incentives to leave more funds in the hands of corporates for investments," FICCI said in a statement.
PMEAC has projected investment rate of 36.5 percent in 2009-10.
FICCI added the PMEAC has projected a "comfortable growth rate" of 6.25-6.75 percent for the economy for the current fiscal.
On monsoon deficiency and possible shortfall in crop production as noted by the Council, FICCI said: "In view of this we once again reiterate supply side intervention because
the Council has drawn attention towards high food prices prevailing in the country and has also underlined the need for correction," it said.
Bureau Report
First Published: Wednesday, October 21, 2009, 23:45