'Modi should focus on key sectors'

Published on May 24, 2015 14:35:25 PM
Business

Apex trade association, Assocham is looking forward for some major reforms by Modi led NDA government in key area such as power, coal, road and non-renewable energy.

Apex body also expects some significant measures in agricultural sector. Celebrated as the backbone of Indian economy, agrarian sector needs huge boost in terms of public investment in areas such as rural infrastructure, irrigation and power supply.

Assocham’s president Rana Kapoor says that, government should increase its focus and attention towards rural economy besides, several programmes such as Jan Dhan Yojna.

Innovative schemes such as gold monetisation would bring stability in gold imports and faiths prevail that the GST bill to move towards a law.

Rana Kapoor has welcomed the expert committee formation on resolving taxation issues such as Minimum Alternate Tax for the foreign institutional investors.

Assocham opines that domestic consumer demand has to be revived with improving the sentiment on employment opportunities to kick start the economic growth.

The chamber also says that holistic view must be taken about the stressed assets in banks in order to control non-performing assets.

Once these sectors look up, the manufacturing revival will pick up towards the completion of the recovery cycle. Besides, the international commodity pricing would also hold the key, the chamber said.