Ficci submits 100-day agenda for govt

Ficci President Rajeev Chandrasekhar who met Singh today ahead of RBI's review of its monetary policy on Tuesday said, "RBI's tightening monetary policy is not a permanent solution to tame inflation. If you (RBI) continue with this policy for two more quarters, we (industry) may fall into the realm of stagflation."     

The 100-day agenda prescribed measures like stimulating investment in financial, agriculture, telecom and other sectors, including infrastructure, so that India could witness economic growth rate in double digits.     

 

The industry body said the much-awaited reforms in insurance, pension and banking would lead to the development of India's capital markets.      

Claiming that industry's confidence level has declined in the last nine months due to rising interest rates Chandrasekhar said, "Ficci has proposed a 100-day agenda for government as a prescription to restore the confidence of investors in economy and attain double digit rate of growth."     

He also said the Prime Minister would be meeting Ficci officials in mid-August.