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Government should use low oil price to spur consumption: Anand Mahindra

Our Bureau Mumbai | Updated on March 09, 2020 Published on March 09, 2020

Anand Mahindra, Chairman, Mahindra Group   -  PTI

Should step up incentives and step down on regulations to attract global investors, says Mahindra Group chief

Mahindra Group Chairman Anand Mahindra on Monday said that the Centre should ease up on regulations and step up the incentives for global investors so that India can take advantage of the opportunities arising out of the ongoing global meltdown due to the coronavirus and crashing oil prices.

"Step up sanitization and the Swachh movement which will make India more appealing to tourists looking for alternatives to China. Step up our incentives & ‘step down’ regulations for global investors who will now look for alternative manufacturing sites to China," Mahindra said in a series of tweet.

"For India, it’s a crisis we mustn’t waste.... The Goverment can use low oil prices both to spur consumption but also retain some of the windfall gains to tackle the deficit," he added.

Mahindra's tweet comes in the backdrop of oil price dropping below $30 a barrel and the impact of coronavirus epidemic spreading to more number of countries.

Published on March 09, 2020

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