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Six percent growth this fiscal possible with reforms: CII

Tuesday, 1 April 2014 - 7:28pm IST | Agency: IANS

India can achieve a growth rate over 6 percent in the 2014-15 financial year, provided systemic reforms are carried out quickly by the new government, Confederation of Indian Industry president Ajay S Shriram said here Tuesday.

He said the growth rate could be taken back to the 8 percent level in the next three years.

"A market-friendly environment is required that would proactively promote investments, business and entrepreneurship," Shriram, who took over as the president of the chamber recently, said at a press meet while unveiling CII's action theme for the year, "Accelerating Growth, Creating Employment".

He also said that a strong economic revival package and right implementation of policies by a fresh government could help create as many as 150 million jobs in the next 10 years.CII has proposed a strong 100-day action agenda for the new government to boost growth.

The theme for the year said the key priorities for CII in the coming year will be in 10 areas - education, skills, economic growth, manufacturing sector growth, investments, ease of doing business, export competitiveness, legal and regulatory architecture, labour law reforms and entrepreneurship.

"Industry is looking for top policy steps such as introduction of GST, easing of interest rates by 100 basis points, keeping subsidies at 1.7 percent of GDP, and restructuring of labour laws to promote mass manufacturing," he said.

 




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