Industry bodies welcome Chidambaram's steps to revive economy
Industry bodies namely FICCI, CII and ASSOCHAM have welcomed the steps announced by the Finance Minister P. Chidambaram to put the slowing economy back on track. Federation of Indian Chambers of Commerce and Industry (FICCI) has expressed willingness to work with the government in its endeavor to revive the economy and put India back on a high growth path.
FICCI PRESIDENT RV Kanoria said that the Finance Minister's statement reflects his comprehensive understanding of the immediate concerns that have to be addressed to put the economy back on track and the FICCI is enthused by these views.
CII expressed happiness over the Finance Minister's comments on high interest rate and putting in place a plan for fiscal consolidation while controlling inflation. Notably Chidambaram has signaled that in days to come the key policy rates could be reduced.
ASSOCHAM has also welcomed finance minister, P. Chidambaram’s statement, ordering a complete review of “retrospective elements in tax policy”. In a statement it said that the minister’s statement should help restore confidence among foreign investors and India should see a resumption of flow of funds from overseas.
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Shekhar Singh
The actions of the PM and now Mr. Chidambaram on economic fronts, somewhere indicates that the Pranab da was not in good form as a FM and the government was helpless to object to his decisions... now when he is away from north block everyone is banking on the opportunity to bring in changes..
Rakhi Sharma
Lets see after Pranab what magic Mr. Chidambaram could do to do away with a slowing economy. Best wishes to him
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