PTI

PHDCCI asks govt to retain fiscal incentives

Sun, Nov 8 10:20 AM

New Delhi, Nov 8 (PTI) The government should desist from introducing monetary tightening measures, and retain fiscal incentives provided through stimulus packages to revive demand and increase private consumption expenditure, PHDCCI has said. A survey by the industry body found industrial growth, impacted by the global recession, is showing signs of recovery and would improve further in the coming months.

"A modest recovery is on the anvil, spurred mainly by the stimulus package, which would have a positive impact on demand and would further lift sentiments during the next six months," it said. However, there are still many challenges that could come in the way of recovery.

The most pressing risk factors, it said, are the "uncertain recovery of the global economy and the spectre of rising interest rates." Other problems include low consumer spending, deficient monsoon and infrastructure deficiency, PHDCCI President Satish Bagrodia said.

India''s Industrial growth catapulted to a 22-month high of 10.4 per cent in August, clearly showing that stimulus measures have yielded results. .

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