Assocham reaction: Index of Industrial Production (IIP) for February 2013

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Assocham reaction: Index of Industrial Production (IIP)
    Both the macro-economic numbers - industrial production and retail inflation clearly point to a dismal state of affairs in the Indian economy, requiring urgent and bold steps not only from the Finance Ministry and the Reserve bank but also from several other key wings of the government including the environment ministry, Defence and the Commerce Ministry.
     

    "Industrial growth of mere 0.6 per cent in February and a cumulative of 0.9 per cent is hardly a growth. We are almost slipping into the negative zone.

    Numbers including continuous of the double digit consumer inflation will add to the problems at the macro level," said ASSOCHAM president Rajkumar N Dhoot.

    He said an all-out effort must be made to restore investor sentiment and consumer confidence. "Both stand shaken today. While it is true that the global factors have aggravated the situation, there is not much enthusiasm n the domestic economy as well," he said.

    The ASSOCHAM president made an appeal to the prime Minister Dr Manmohan singh to direct the concerned ministries to clear the non-legislative decisions.

    "Banks must also be asked to support the entrepreneurs who seem to be difficult times. Chasing them through courts or debt recovery tribunals will not help. It is working together, which is required. Any non-performing assets can be converted into a performing assets, if pragmatic approach is adopted, "said Mr Dhoot.

    Source: Assocham

    GoodReturns.in

    Read more about: assocham
    Story first published: Saturday, April 13, 2013, 11:46 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more