Industry body urges govt to take ‘Out of Ordinary’ steps to support economy

New Delhi, Oct 3 (KNN) In the aftermath of the slow growth figures from the June quarter, industry body The Associated Chambers of Commerce of India (ASSOCHAM) urged the government to take immediate important steps to help the country’s economy.

ASSOCHAM in a statement informed that the industries in the country are looking eagerly towards the government take the 'out of ordinary' measures, citing "concerns over slowdown in growth due to the transient disruptions in the economy following GST implementation and the remaining over-hang of demonetization".

Suggesting measures, the industry body has written to the Reserve Bank and the Monetary Policy Committee to considering slicing interest rates of minimum 2 basis points, as the credit policy review is scheduled for October 4.

It also emphasized that under the Goods and Services Tax, different sectors are facing various complexities and complications.

The government must take into considerations these issues to avoid any possible disruptive impact of the new taxation, the chamber appealed. (KNN/DA)