For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

India Inc. calls for growth boosting measures

By Religare
|

India Inc. calls for growth boosting measures
Amidst estimates of tepid economic growth for the current fiscal, India Inc. has called on policymakers to undertake more measures to bolster the factory and mining sectors and accelerate infrastructure investment in a bid to end the slowdown in Asia's third biggest economy.
 

India's economy is tipped to grow below 5 per cent in FY 2013-14, with gross domestic product estimated to expand 4.9 per cent, higher than 4.5 per cent in the previous fiscal as high interest rates, elevated inflation and policy paralysis cripples investment and spending.

The manufacturing sector is tipped to contract this fiscal amid weak demand due to tepid consumption, investment and lower government spending, the Central Statistical Office (CSO) said on Friday. The sector may shrink 0.2 per cent in FY 2013-14, compared to a growth of 1.1 per cent in the previous financial year.

India Inc. stressed on policymakers to kick-start stalled projects in the infrastructure and manufacturing sectors, remove obstacles in the mining sector to aid the revival of economic growth.

The slight pickup in the economic growth this fiscal was attributed to better than expected performance from the agriculture and allied sectors, which are tipped to expand by 4.6 per cent, up from 1.4 per cent from the previous fiscal.

Dion Global Solutions Ltd.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
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