Boost MSMEs to revive economy: FICCI
Updated: Feb 14, 2014 05:02:29pm
New Delhi, Feb 14 (KNN) Reacting to the inflation data, the Federation of Indian Chambers of Commerce and Industry (FICCI) President Sidharth Birla said manufacturing particularly in the MSME sector needs a pressing action to revive the economic growth.
“We must and very urgently concentrate on reviving growth for the manufacturing sector and lay special emphasis on resolving problems of the MSME sector also,” he said.
Birla said one of the imperatives from the government is to promote the sector through monetary policy.
“Monetary policy driven boosts are one imperative even as we look forward to deeper reforms from the government to enhance capacities and competitiveness”, he said.
Weak demand continues to be of the biggest concern for industry.
Private consumption indicates a growth of 4.0 percent in 2013-14, which is the lowest in about eleven years.
“Both wholesale price index and consumer price index have eased considerably in the past two months. With good sowing in the rabi season it is expected that inflation will maintain its downward trajectory going forward,” he said. (KNN/ST)
“We must and very urgently concentrate on reviving growth for the manufacturing sector and lay special emphasis on resolving problems of the MSME sector also,” he said.
Birla said one of the imperatives from the government is to promote the sector through monetary policy.
“Monetary policy driven boosts are one imperative even as we look forward to deeper reforms from the government to enhance capacities and competitiveness”, he said.
Weak demand continues to be of the biggest concern for industry.
Private consumption indicates a growth of 4.0 percent in 2013-14, which is the lowest in about eleven years.
“Both wholesale price index and consumer price index have eased considerably in the past two months. With good sowing in the rabi season it is expected that inflation will maintain its downward trajectory going forward,” he said. (KNN/ST)
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