Business Daily from THE HINDU group of publications
Monday, Dec 08, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Dec 08, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Industry Associations Government - Financial Policy Chambers welcome package Our Bureau New Delhi, Dec 7 The stimulus package announced by the Government saw positive reactions from most sections of India Inc., with industry chambers saying the duty cuts and other sectoral incentives would help spur demand. FICCI’s Secretary General, Mr Amit Mitra, said, “The package has enough punch to restart the overall economic activity through its massive Rs 3,00,000 crore in the balance four months of the fiscal.... “It also seeks to create additional demand through a cut in Cenvat.... “It has taken a number of steps to support exports in the face of sagging global demand.” Unsatisfied by the Rs 20,000-crore stimulus via plan expenditure, the Assocham President, Mr Sajjan Jindal, said that the industry had been anticipating a demand booster package of Rs 70,000 crore. Mr Jindal said he hoped the Government would take more drastic measures to create the demand and ensure that the economy bounces back to its previous growth speed. “The most important point is proper usage of the stimulus package,” the CII Director-General, Mr Chandrajit Bannerjee, said. More Stories on : Industry Associations | Financial Policy | Economy | Financial Markets
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