Ms Kalpana Morparia, Deputy Managing Director, ICICI Bank:

One of the many welcome proposals is bringing lending to the food processing industry by banks under the priority sector lending. I believe the move would not only improve employment generation but also bring in a greater portion of the rural economy into the mainstream financial and economic activity. The growing shift in focus to the rural sector has thus received a significant thrust. Another positive move is the initiative to bring small and medium enterprises in the services sector on par with small scale enterprises in the manufacturing sector. This would allow greater spread of the services led growth phenomenon and would help in increasing overall levels of income.

(This article was published in the Business Line print edition dated March 1, 2006)
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